Newmark Announces 8000 Sq. Ft of Office Leases in Philly
Over 8,000 Square Feet of Office Leases Signed in Philadelphia’s One South Broad Street
Building can accommodate life sciences conversion of remaining 108,000 square feet
Philadelphia, PA (June 8, 2021) — Newmark Real Estate (Newmark) announces 8,394 square feet of new office leases signed at One South Broad Street, centrally located adjacent to City Hall in Philadelphia, Pennsylvania. The leases were signed to law firms Williams Cedar (3,895 square feet) and Brown & Associates (2,475 square feet) and AWS, salesforce and data Integration consulting firm rockITdata (2,024 square feet). Newmark Managing Director Matt Guerrieri and Executive Managing Director Craig Scheuerle represented the landlord, AION Partners, in the leasing.
“As trial lawyers, we could not have found a better location in Philadelphia. Our new space is bright, efficient and convenient to our staff. It is just the kind of comfortable, collegiality-promoting workplace we were seeking,” said Gerald Williams, Founding Partner at Williams Cedar.
“We are thrilled to be in our new headquarters space at One South Broad Street,” said Marlie Andersch, CEO of rockITdata. “The workspace will provide our company the base for the exponential growth we expect over the next several years.”
One South Broad Street highlights the ability to convert nearly a quarter of the building (108,418 contiguous square feet), to life sciences space. The customizable space features lab-ready infrastructure; large, efficient and flexible floor plates; significant structural live load floor capability; 16’ to 20’ clear heights accommodating small and large molecule research; existing vertical shaft capacity to accommodate lab supply and exhaust needs and more.
“One South Broad Street is ready to accommodate the R&D laboratory market,” said Guerrieri. “The speed to market of this centrally located potential conversion makes it attractive to life sciences tenants who are seeking a space solution more readily available than new construction.”
About AION Partners
AION Partners is a vertically integrated owner and operator of multifamily and office real estate located throughout the Northeast. Founded in 2001, AION has acquired over 50 multifamily assets, comprised of nearly 19,000 units. AION’s primary focus is to deliver superior, risk-adjusted returns to its partners. We do so by surveying the macro-level real estate market, identifying undervalued and undercapitalized sectors with strong growth dynamics, and aggressively pursuing market-specific acquisitions. AION Partners along with their property management division, AION Management, creates value while maximizing yield and efficiently executing their business plans by utilizing active management techniques and favorable access to the capital markets. To learn more, visit https://www.aionpartners.com/.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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