The largest of the new lease agreements is a 34,659-sf commitment from San Diego-based CardioNet Inc. in the 72,000-sf Millennium III building at 227 Washington St. That takes building occupancy to 92%, according to Scott Gabrielsen, senior vice president of Philadelphia-based Binswanger, who is O'Neill's leasing representative for the complex. Scott Miller and James Kelley of the Philadelphia office of CB Richard Ellis represented CardioNet. Gabrielsen tells GlobeSt.com the rental rate at all three buildings is $28.50 per sf, plus electric. The 54,000-sf Millennium II is fully leased.
Three renewals secure 98% occupancy in the 72,000-sf Millennium I building, located at 20 Ash St. The largest of the three is by Pasadena, CA-based Jacobs Engineering Group Inc. for 20,023 sf. Brokers in the Philadelphia office of Cresa Partners represented Jacobs.
Gabrielsen was the sole broker in an 8,742-sf renewal by locally based Fast Track Systems Inc. at Millennium I. Brookfield, WI-based Hammes Co. renewed for 3,000 sf in the same building and was represented by Cushman & Wakefield of Pennsylvania. Gabrielsen says the stabilization of the center, which broke ground in 2001, demonstrates that "Conshohocken remains one of the most desirable locations in the suburbs." O'Neill has proposed a 270,000-sf Millennium IV, but has not set a date for breaking ground.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.