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BSC Expands, Relocating to Two Liberty Place

PHILADELPHIA-The firm pens a 13-year, seven-month lease for the CBD trophy. The HQ move into 53,275 sf takes place in Q3.

By Marita Thomas | Updated on September 15, 2006

PHILADELPHIA-BSC Services has signed a 13-year, seven-month lease for 53,275 sf on two full, contiguous floors in Two Liberty Place. The move represents another example of a Center City tenant migration to a trophy building.

BSC Services, a service provider for Republic First Bank and First Bank of Delaware, will move its headquarters to 1601 Chestnut St. and vacate 36,000 sf at 1608 Walnut St. in the third quarter. “BSC was seeking to significantly upgrade its headquarters space and obtain essential flexibility for its growing operation,” says Greg Soffian, corporate managing director of the local office of Studley. He and Matt Sall, senior managing director in the same office, represent BSC in all of its real estate transactions. Joseph Wolff and Mitch Marcus of the local office of CB Richard Ellis, represent the building owner, Miami-based Americas Capital Partners.

“Two Liberty posed an opportunity to upgrade in the city,” Soffian tells GlobeSt.com. “We were able to secure a long-term lease without significantly increasing the company’s real estate expenses.” He acknowledges that “the lease term seems odd,” but says “it’s because of the amount of capital and free rent the owner provided to obtain a long-term quality tenant.” Neither he nor CBRE would disclose the value of the incentives, lease or rental rate.

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