This is one of the largest class A big-block office lease agreements this year. It comes at a time when there are few large blocks of space available in Center City and the overall vacancy rate is the lowest in five years. The lease takes occupancy in the 1.2-million-sf One Liberty to 95%, according to Bill Hirschfeld, senior director of the local office of Cushman & Wakefield.

Hirschfeld and Sun Park, a C&W associate, represented the building owner, identified only as Philadelphia Liberty Place LP. Edward O'Brien, partner in Wilmington, DE-based McConnell Johnson Real Estate LLC, represented the tenant.

Hirschfeld declined to disclose the aggregate value of the agreement, but tells GlobeSt.com it is for a 16-year term. The asking rent rate at One Liberty, he says, is $35 per sf, plus electric. The rate is an indication of the health of the CBD office market. The quoted rates for this building approximately 16 months ago ranged between $28 per sf and $30 per sf.