PHILADELPHIA-One Penn Center at Suburban Station just picked up a 21,000-square-foot renewal from long-term tenant McElroy, Deutsch, Mulvaney & Carpenter, LLP. The law firm decided to stay with its 20-year regional home, locking in the space for an additional 10-year lease term.

The class A office at 1617 John F. Kennedy Blvd. here in center city is 1930s ear property, which was originally constructed for the Pennsylvania Railroad’s corporate headquarters. It is a newly anointed Energy Star property. The deal was worked out by Timothy B. Monahan and Patrick W. McGrath of Studley, who repped the law firm and Joshua Sloan and David Healy of Jones Lang LaSalle who represented the owner, One Penn Associates, LP. They have owned the property since 2002.

The firm tells GlobeSt.com that there had been a lot of consideration to leave the property, in spite of the long history the legal group has with One Penn, but after extensive shopping around the firm decided to stay in its current digs, with an option to expand. The law firm’s lease did not expire until the end of October and has been in the building since 1991. Although there was no quote as to the leasing rate negotiated by the property and the firm, the average asking rate in Philly, according to Marcus & Millichap, comes to $24 per square foot. It is assumed that the rate would be higher for an iconic tower, but concessions could also have been made to accommodate the long-time client. The firm also boasts offices in Hartford, Southport, CT, and Waterbury, CT; Greenwood Village, CO; Boston; New York City; Ridgewood, NJ and its headquarters in Morristown, NJ.