M.S. Fox Real Estate Group is proud to announce we have been appointed by the Kaiserman Company as the Exclusive Leasing Agent for 400 Market Street, Philadelphia PA, 19106. Please Contact Tony Falcone or Karl Schwemlein for any inquires.
July 2014 Sale & Lease Transactions Completed by M.S. Fox Real Estate Group, Inc.
M.S. Fox Real Estate Group, Inc. is pleased to announce the following Sales Transactions:
1313 Race Street Philadelphia, PA - The Buyer, Bentley Saul, purchased1313 Race Street, consisting of approximately 2,400 square feet, from the Seller, Raymond Quaglia, at a price of $495,000. Tony Falcone and Scott Lewis of M.S. Fox Real Estate Group represented both the Buyer & Seller on this transaction.
100 Gaither Drive Mt. Laurel, NJ – The Buyer, Wu & Associates a general contracting firm, purchased 100 Gaither Drive from the Seller, Monroe Business Centers, for a price of $800,000. 100 Gaither Drive in Mount Laurel, NJ is a one story office building consisting of 10,000 square feet. Frank Bobrow Vice President at M.S. Fox Real Estate Group was the sole broker in this transaction.
M.S. Fox Real Estate Group, Inc. is also pleased to announce the following Center City Lease Transactions totaling over 25,000 square feet:
First Transaction, the Tenant, OIC of America, leased 15,413 square feet for a 5 year term at 444 N. 3rd Street. OIC of America is a non-profit organization that provides education, training, employment, and housing services to economically disadvantaged individuals. Anthony Falcone of M.S. Fox represented the Landlord, Ranstead Associates, LLC and Mark Adzick from CBRE represented OIC of America.
Second Transaction, the Tenant, Health Strategies & Solutions, Inc., renewed its lease for 10,500 square feet for an 8 year term at Eight Penn Center. Health Strategies & Solutions, Inc. is a national health care strategy firm. Michael Fox represented the Landlord ASI Management. David Healey from Jones Lang LaSalle represented Health Strategies & Solutions Inc.
Third Transaction, the Tenant, Republic First Bank, has renewed its lease on the ground floor of the Medical Arts Building. The aggregated rent was over $800,000 for a 5 year term. Scott Lewis of M.S. Fox Real Estate Group represented the Landlord, ASI Management.
Jenkintown Plaza For Lease : Unique Office Space Directly Across from the Train Station
Jenkintown Plaza is a multi-tenanted office building located at
101 Greenwood Avenue, Jenkintown, PA. The property is an established office building with a newly renovated lobby and elevator cabs. Common area bathrooms have been upgraded. Large expansive ribbon glass allow for a high number of perimeter offices with attractive views. On site property manager.
Jenkintown Plaza is located directly across the street from the Jenkintown train station and 25 minutes from downtown Philadelphia. The building consists of 100,000 square feet. Convenient location offers direct access to SEPTA’s Jenkintown-Wyncote train station, which is serviced by the R1, R2, R3 and R5 regional rail lines. 10 minute drive by way of Route 309 to the Fort Washington exit of the Pa Turnpike. 25 minute drive to Center City Philadelphia. Greenwood Avenue Bridge opened at the end of June!
Highlights:
-Jenkintown Train Station
-On Site Superintendent
-Pre built space, new carpet, ceiling, lightning and wired.
-Landlord will build to suit
-Lower Level storage available
-Tenants have access to Center City conference room within Eight Penn Center, 1628 JFK Boulevard, Philadelphia PA, 19103 at no cost.
Availability:
Lower Level – 2,200SF
2nd Floor – 2,185SF
2nd Floor – 2,712SF
3rd Floor – 1,251SF
4th Floor – 5,150SF
6th Floor – 920SF
Rate: $18.50 Plus Electric/ Square Foot
Lower Level Rate: $14.00 Plus Electric/ Square Foot
8 Penn Center Full Floor Office For Lease Center City Philadelphia
Eight Penn Center is an established Class “A” office building in Philadelphia’s most prestigious CBD submarket and has captured a firm position in the corporate segment competing effectively with similar properties in the Penn Center area.- 10,500 Square Feet is available on the 7th Floor at a rate of $22.75 Plus Electric with magnificent views of John F. Kennedy Boulevard & Gorgeous exposed ceilings!
- Eight Penn Center occupies a unique location above the Penn Center Suburban Station and offers direct concourse access from the lobby.
- Fitness Health Center & Conference room on-site for tenant use only.
- Built in 1981, as the headquarters for Commonwealth Land Title, Eight Penn Center boasts of institutional grade systems and that no other building in the original Penn Center complex can match.
- Eight Penn Center was designed by Kohn Pederson Fox, a world-renowned architectural firm whose Philadelphia works include One Logan & Two Logan Square, The Four Season Hotel and the Mellon Bank Center.
Recognize the Advantage of a Sublease
When you are considering various lease options, consider subleasing office space. You can often secure highly upgraded space with high end interior finish at no additional cost. In addition, the length of the lease term is generally shorter, therefore you have less of a financial obligation. Credit requirements and security deposits are generally less stringent.
Rental rates are more negotiable but do not expect generous tenant improvement packages from the Sub-landlord. Keep in mind that the paperwork is sometimes cumbersome as you have to execute a sublease agreement and a Consent Letter with the Prime Landlord.
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Welcome to M. S. Fox Real Estate Group’s Blog. Visit us for news & information about Philadelphia’s Commercial Real Estate Market. Our blog’s focus is on office leasing, sales, subleasing & property development.
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M. S. Fox Real Estate Group has been a leader in the commercial real estate industry since its principal founded the company 22 years ago. Serving Philadelphia and the surrounding markets since 1992, we take a unique approach by providing our clients with the most comprehensive, efficient, and cost effective real estate solutions.