4C — April 12 - 25, 2013 — Pennsylvania — Mid Atlantic Real Estate Journal
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SMPS Philadelphia’s Team Preemie Power is looking for: Walkers Corporate Sponsors
At Rugby Realty affiliate’s 2100 Wharton St. CBRE reps Wharton Lender Associates in 12,000+ s/f
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iTTSBURGH, PA — Rugby Realty’s affili- ate, Wharton Lender
Associates, LP , has signed new and expanded leases for over 126,000 s/f, totaling over $14 million in value, since they acquired the building formerly known as ‘Birmingham Towers’ in late 2012. These long-term leases represent more than half of the building, which now has occupancy over 85%. The newest leases at 2100 Wharton St. include Steeltown Entertainment, Acatar, LLC (a Carnegie Innovations affiliate), The Fred Rogers Company and Allegheny County. In addition to the new tenants, Dynavox, The University of Pittsburgh and American Wills and Es- tates have all extended and/or expanded their space at the property. Asking rental rates have been increased by $5.00 psf in advance of the renovations scheduled by the owners, in- cluding upgrades to the HVAC system, common areas, secu- rity, and an entirely new lobby entrance experience scheduled to begin construction before summer. According to Larry Walsh ,
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2100 Wharton St.
that activity there continues to be strong with a number of lease proposals out and more announcements expected shortly. According Miller, “The loca- tion, the ownership, and the upgrades to the large floor- plate building really seem to appeal to tech and software tenants. The tenant mix includ- ing Dynovox and Knopp Biosci- ences – and now Steeltown and Acatar – is really making it a destination for companies with entrepreneurial employees. Add to the mix The Fred Rodg- ers Company, and it’s become a Beautiful Neighborhood, with 90,000 s/f + of tech related companies settling there just to start”. n
senior vice president, of Rugby Realty “We are going to add the amenities that we see cutting edge companies continue to request across our portfolio, in- cluding plans for installing new tenant conferencing areas, and a new tenant fitness facility. Combined with our proposed new two story glass facade, new building entrance, and grand lobby, we are planning to pro- vide tenants at 2100 Wharton St. with a class A experience”. CBRE handles the leasing at the property. When asked about the pace of the leasing, Jeremy Kronman , executive vice president CBRE and An- drew Miller , vice president of cbre both stated that they were trying to catch their breath, but
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