The law firm now occupies multiple spaces at 1528 Walnut Street and will consolidate them when it relocates in August. Matt Frederick, VP, and Joseph Viturello, an associate with locally based Arden Real Estate Services, represented the owner, ADR North American LP, an entity of locally based Allan Domb Real Estate, in the negotiations. Andrew Margolis, a principal of A. Margolis Realty Co., also based here, represented the tenant.
Without disclosing the aggregate value of the lease, Viturello tells GlobeSt.com the asking rental rate in the building is $18.50 per sf, plus electric. Frederick and Viturello also represented ADR in one of the renewals and represented the tenant in the other.
In the larger of the two, the David Segal CPA firm, which began occupancy in the building in the mid-1990s, extended its space contract for 2,791 sf on the 17th floor. The new nine-year agreement has an aggregate value of more than $570,000 and continues the company's presence in the building to 2015, Viturello says.
Attorney Robert Mozenter and CPA Lawrence Spector have extended their lease for 2,100 sf of shared space on the 17th floor under a five-year renewal agreement. Judy Simon of locally based Seligsohn Soens Hess represented the tenants in negotiating with the Arden team. The building was completed in 1911. Among its other tenants are the Pennsylvania Trial Lawyers Association, the Shine Law Center Ltd., and the law firms of Gerolamo, McNulty, Divis & Lewbart and Golomb & Homik.
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