M.S. Fox Real Estate Group is Pleased to announce that Karl Schwemlein has been awarded the Center City Philadelphia 2014 Broker of the Year for his outstanding performance & Deal Making! A few of his recently completed lease transactions are featured below

23,000 SF medical treatment facility on Kensington Avenue

9,772 SF New River Health & Wellness Lease at 1 Brown Street, Philadelphia

4,800 SF Dental Solutions lease at Central Square Shopping Center in NorthEast Philadelphia

5,151 SF renewal and expansion – Nutche Chiropractic at 1608 Walnut Street

M.S. Fox Real Estate Group is pleased to announce that President Michael S. Fox has been named a 2014 CoStar Power Broker TM by CoStar Group, Inc. , the leading provider of commercial real estate information, analytics and online marketplaces. This annual industry award recognizes distinguished professionals in commercial real estate brokerage by highlighting the achievements of the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2014 within their respective markets.
Michael Fox qualified as one of the top commercial brokers in Center City, Philadelphia based on the total leasing transactions he closed during the year 2014.

M.S. Fox Real Estate Group, Inc. is pleased to announce the following Lease Transactions totaling over 32,000 square feet:

First Transaction, the Tenant, Y2K9, leased +/-15,000 square feet for a 10 year term at 601 Davisville Rd. Willow Grove, PA. Y2K9 is a dog training organization that offers a wide curriculum of training classes; including obedience, agility, and freestyle dance. Michael Fox of M.S. Fox Real Estate Group represented the Tenant. Arlington Group represented the Landlord, Premier Office Solutions.

Second Transaction, the Tenant, Barry Levin DMD, leased 4,000 square feet for a 13 year term at 509-15 Old York Road Jenkintown, PA. Barry Levin DMD is a periodontist who specializes in dental implants. Michael Fox and Brett Fox represented the Tenant Barry Levin DMD. Abrams Real Estate and Development represented the Owner.

 Third Transaction, the Tenant, New River Health & Wellness, signed a 10 year lease for 9,722 SF on the ground floor of The Penthouses at 1 Brown Street Philadelphia, PA. New River Health & Wellness is a medical complex dedicated to rehabilitation and fitness. Karl Schwemlein of M.S. Fox Real Estate Group represented the Tenant.

Fourth Transaction, the Tenant, Crossfit Rittenhouse, leased +/- 5,000 square feet for a 7 year term at 2300 Chestnut Street Philadelphia, PA. Cossfit Rittenhouse is Philadelphia’s elite fitness center, offering custom designed training to meet the individual goals of their members. Brett Fox of M.S. Fox Real Estate Group represented the Tenant.

Michael Fox of M.S. Fox Real Estate Group Inc. is pleased to have represented Learnquest in the relocation of their corporate office to 2 Bala Plaza in Bala Cynwyd Pennsylvania for a 5 year lease term. Learnquest is an international corporation that provides education solutions to a multitude of different corporations. These education solutions enable corporations to train their staff on the latest business skills, information & technology. Recently Learnquest became a premier business partner with IBM. Becky Talbot and Janet Guilianni of Tishman Speyer Properties represented the landlord Bala Plaza Property 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.

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.