PHILADELPHIA-Newmark Grubb Knight Frank has completed a long-term lease renewal for the national law firm Ballard Spahr at the BNY Mellon Center tower here. The firm has 179,000 square feet. The 54-story tower, topped with an iconic pyramid, is one of the most recognizable structures in the region.
Part of the Penn Center complex, the building is the fourth tallest in Philadelphia. Built over a shopping concourse that connects to an adjacent winter garden, the lobby of BNY Mellon Center made an appearance in the 1993 film, “Philadelphia.”
High-profile tenants with headquarters in the building at 1735 Market St. include BNY Mellon, FMC Corp. and Sunoco.
Wayne Fisher, executive managing director and Craig Scheuerle, senior managing director, represented the landlord, CommonWealth REIT in this transaction. The REIT owns office and industrial properties in 31 states throughout the country, Washington D.C. and Australia.
Ballard Spahr was represented by CBRE in its renewal negotiations. The firm has more than 500 lawyers in 13 offices around the country. It provides services in litigation, business and finance, real estate, intellectual property and public finance, representing Fortune 500 companies, financial institutions, health systems, investors and developers, government agencies and nonprofits.
CommonWealth is headquartered in Newton, MA, as is REIT Management & Research Real Estate Services, which manages the center in downtown Philadelphia.
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