14B — October 21 - November 17, 2022 — Southeastern Pennsylvania — M id A tlantic Real Estate Journal
S outheastern PA
Leading financial, legal and consulting firms will occupy 75,000 s/f at iconic office tower Silverstein Properties and Arden Group sign five leases at 1735 Market Street, Philadelphia
HILADELPHIA, PA — Silverstein Prop- erties , a national real estate investment, develop- ment and management firm, and Arden Group , a verti- cally integrated real estate investment management firm, today announced five new lease signings at 1735 Market St. totaling more than 75,000 s/f. The five leases bring the building to 90% occupancy. They include: ● UBS Financial Services, Inc., a multinational invest- ment bank and financial ser- vices company founded and P
based in Switzerland, signed a 10-year, 10-month lease for 22,625 s/f. UBS will relocate within the building to the 44th floor in August 2023. ● Capital One Financial Corporation, a bank holding company specializing in credit cards, auto loans, banking, and savings accounts, signed a 9-year lease for 22,382 s/f. The company will create an innova- tion center on the 37th floor when it relocates from Phila- delphia’s suburbs to downtown in Spring 2023. ● Ogletree, Deakins, Nash, Smoak & Stewart, P.C., a
leading labor and employment law firm, renewed its lease for 15,204 s/f on the 30th floor. ● T. Rowe Price Group, Inc., a publicly-owned global in- vestment management firm, expanded its lease by 3,824 s/f. Beginning June 2024, the company will occupy 7,447 s/f on the 30th floor. ● Heidrick & Struggles, a premier provider of senior- level executive search, cul- ture shaping, and leadership consulting services renewed its lease for 7,353 s/f on the 35th floor. “1735 Market Street contin-
ues to attract the top companies in Philadelphia,” said Jeremy Moss , executive vice president at Silverstein Properties. “As business leaders look to get the most out of their office space, conveniently located, well ame- nitized buildings like 1735 will be their first choice.” Owned by Silverstein Prop- erties and Arden Group, the 54-story, 1,286,936 s/f build- ing is the crown jewel of the Philadelphia Central Business District, and one of the premier office buildings in the United States. Tenants include Akin Gump, Ballard Spahr, Boston Consulting Group, BNY Mel- lon, Brandywine Global, Fidel- ity, Goldman Sachs, and Willis Towers Watson. The building is widely recognized for its trade- mark pyramid crowned top and timeless lobby that is acces- sible from both Market Street and JFK Boulevard, which are among Philadelphia’s most prominent avenues. Silverstein and Arden just completed capital improve- ments to the Market Street entrance and lobby, including the replacement of existing monument sides on the north and south faces to provide increased signage opportuni- ties for tenants. Additional improvements included re- painting the steel supporting the building’s iconic rooftop pyramid, upgrades to LED lighting, and a multi-phase project to improve the qual- ity of elevator rides. Silver- stein and Arden installed new MERV-13 air filtration systems to improve the build- ing’s air quality, a COVID- era protocol the developer chose to make permanent. Jeremy Moss and Keith Cody of Silverstein Properties, as well as Anthony LiVec- chi, Tom Weitzel and Mitch Marcus of JLL represented the landlord in these deals. Jack Meyers of C ushman & Wakefield represented UBS Financial Services, Inc. J. Scott Gabrielsen of CBRE represented Capital One Financial Corporation . Mitch Marcus of JLL repre- sented Ogletree, Deakins, Nash, Smoak & Stewart, P.C. Ashley Parrillo of JLL represented T. Rowe Price Group, Inc. Perry Kaplan, Peter Cipriano and Scott Weiss of Savills represented Heidrick & Struggles. MAREJ
1735 Market St.
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