A newly renovated Wayne office building has secured three new leases, including one with Comcast Advertising, totaling 80,000 square feet, writes Ryan Mulligan for the Philadelphia Business Journal.
The largest lease at 1111 Old Eagle School Road is 38,572 square feet for iPipeline, the software development firm’s headquarters. Comcast is leasing 32,600 square feet, while supply chain digitalization firm Elemica has signed a lease for 8,014 square feet.
These three new tenants are significant additions for the 200,000-square-foot Main Line office building, following its rebrand and renovation. All three newcomers relocated from elsewhere in the region.
The leases are all long-term and, according to CBRE, are at rates consistent with the top of the trophy Class A market.
CBRE represented building owner DLL Group in all three deals. DLL Group previously occupied the entire building before reducing its space by over a half, to 84,000 square feet, three years ago.
Following the downsizing, the Netherlands-based financial services firm began renovations of its North American headquarters building, aiming to fill the newly vacant space. The overhaul included an updated lobby, café, and fitness center, along with the addition of a conference center accessible to all tenants.
Read more about the Wayne office building getting new leases in the Philadelphia Business Journal.
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