Today's Date: Add To Favorites
Dilworth Takes 72,000 SF in Centre Square
Law Firm News | 2007/03/21 19:10



The law firm of Dilworth Paxson LLP has signed a 16-year lease for 72,000 sf in the East Tower of Centre Square. Executives of Comcast Corp. currently occupy the space on the three top floors and will vacate on completion of Comcast Center, now under construction at 1600 JFK Blvd.

Comcast now occupies approximately 400,000 sf in the 1.8-million-sf, two-tower Centre Square property, which is located at 1500 Market St. The Dilworth Paxson lease absorbs nearly 20% of that pending vacancy. The aggregate value and rent rate of the new lease are undisclosed. According to a report from the local office of CB Richard Ellis, the average asking rent rate in the Market West submarket closed 2006 at $25.10 per sf.

"The Center City office market is rapidly changing in a positive direction," Christian Dyer, a first VP in the local CBRE office, tells GlobeSt.com. He, EVP David Jarjisian, and first VP Nick Gersbach, represented the owner, HRPT Properties Trust, in the lease negotiations.

Of the entire Center City office market, Dyer adds, "In contrast to a couple of years ago, there are now very few large blocks of space available. Overall rent rates have increased about 10% within the past 12 to 18 months, and we expect another 10% increase over the next 12 months."

He says Center Square is currently 85% occupied, which includes the Comcast occupants. "Net, net, we’re already doing deals for that space," he says. Lincoln Financial, which now occupies two floors aggregating 58,000 sf in the complex, has announced that it will relocate some offices to suburban Radnor, but Dyer says the net loss is still unknown.

Newton, MA-based HRPT acquired Centre Square from Met Life for $183.5 million in 2002. A $25-million renovation is reaching completion at the complex, which is often called "the clothespin building," in reference to the Claus Oldenburg Clothespin sculpture at the front plaza that links the 40-story and 32-story, class A properties. They were built in 1973.

Dilworth Paxson will relocate from its current quarters at Mellon Bank Center, which is also owned by HRPT. Dave Campoli, HRPT VP, who is located here, says the law firm "has always been an important tenant in our Center City portfolio. We’re pleased that they elected to relocate to another HRPT building."



[PREV] [1] ..[7511][7512][7513][7514][7515][7516][7517][7518][7519].. [8292] [NEXT]
All
Class Action
Bankruptcy
Biotech
Breaking Legal News
Business
Corporate Governance
Court Watch
Criminal Law
Health Care
Human Rights
Insurance
Intellectual Property
Labor & Employment
Law Center
Law Promo News
Legal Business
Legal Marketing
Litigation
Medical Malpractice
Mergers & Acquisitions
Political and Legal
Politics
Practice Focuses
Securities
Elite Lawyers
Tax
Featured Law Firms
Tort Reform
Venture Business News
World Business News
Law Firm News
Attorneys in the News
Events and Seminars
Environmental
Legal Careers News
Patent Law
Consumer Rights
International
Legal Spotlight
Current Cases
State Class Actions
Federal Class Actions
New Hampshire courts hear 2 ..
PA high court orders countie..
Tight US House races in Cali..
North Carolina Attorney Gene..
Republicans take Senate majo..
What to know about the unpre..
A man who threatened to kill..
Ford cuts 2024 earnings guid..
Kenya’s deputy president pl..
South Korean court acquits f..
Supreme Court grapples with ..
Supreme Court leaves in plac..
Kentucky sheriff accused of ..
New rules regarding election..
North Carolina appeals court..


Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet.
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Legal Document Services in Los Angeles, CA
Best Legal Document Preparation
www.tllsg.com
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
East Greenwich Family Law Attorney
Divorce Lawyer - Erica S. Janton
www.jantonfamilylaw.com/about
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
  Law Firm Directory
 
 
 
© ClassActionTimes.com. All rights reserved.

The content contained on the web site has been prepared by Class Action Times as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Affordable Law Firm Web Design