Silverstein Properties, a nationwide real estate investment, development and management company, and Arden Group, a vertically integrated real estate investment management company, today announced five new lease signings at 1735 Market Street totaling more than 75,000 square feet. The five leases bring the building to an occupancy rate of 90%. They include:
- UBS Financial Services, Inc., a Swiss incorporated and based multinational investment banking and financial services company, signed a 10-year, 10-month lease for 22,625 square feet. UBS will move to the 44th floor within the building 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 square feet. The company will set up an innovation center on the 37th floor when it moves from the Philadelphia suburbs to downtown in spring 2023.
- Ogletree, Deakins, Nash, Smoak & Stewart, PCa leading employment law firm, renewed its lease on 15,204 square feet on the 30th floor.
- T. Rowe Price Group, Inc., a publicly owned global investment management company, added 3,824 square feet to its lease. As of June 2024, the company will occupy 7,447 square feet on the 30th floor.
- Heidrick & Fightsa leading provider of executive search, culture shaping and leadership consulting services, renewed its lease on 7,353 square feet on the 35th floor.
“1735 Market Street continues to attract top businesses in Philadelphia,” he said Jeremy Moss, Executive Vice President at Silverstein Properties. “As business leaders want to get the most out of their office space, conveniently located, well-appointed buildings like 1735 will be their first choice.”
The 54-story, 1,286,936-square-foot building, owned by Silverstein Properties and Arden Group, 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 Mellon, Brandywine Global, Fidelity, Goldman Sachs and Willis Towers Watson. The building is well known for its pyramidal spire and timeless lobby, which is accessible from both Market Street and JFK Boulevard, some of Philadelphia’s most well-known streets.
Silverstein and Arden have just completed capital improvements to the Market Street entrance and lobby, including replacing existing monument sides on the north and south sides to provide tenants with more signage options. Other improvements included repainting the steel that supports the building’s iconic roof pyramid, upgrades to LED lighting, and a multi-phase project to improve the quality of elevator rides. Silverstein and Arden installed new MERV-13 air filtration systems to improve the building’s air quality, a COVID-era protocol the developer wanted to make permanent.
Across the Silverstein Properties portfolio, tenants now have access to a new hospitality program, INSPIRE, which offers premium hotel-quality amenities, community events, fitness classes and access to all of the amenities and flexible co-working spaces in the Silverstein portfolio, which customers allows you to choose the best working environment for your needs. Last year, Silverstein and Arden hired a hospitality ambassador for the Lounge @ 1735 Market, a renters-only residential floor that offers a mix of shared workspaces, meeting rooms, lounge areas, entertainment areas and outdoor spaces.
Silverstein Properties’ Jeremy Moss and Keith Cody and JLL’s Anthony LiVecchi, Tom Weitzel and Mitch Marcus represented the landlord on these deals. Jack Meyers of Cushman & Wakefield represented UBS Financial Services, Inc. J. Scott Gabrielsen of CBRE represented Capital One Financial Corporation. JLL’s Mitch Marcus represented Ogletree, Deakins, Nash, Smoak & Stewart, JLL’s PC Ashley Parrillo represented T. Rowe Price Group, Inc. Savills’ Perry Kaplan, Peter Cipriano and Scott Weiss represented Heidrick & Struggles.
For more information about 1735 Market Street and to inquire about leasing opportunities, please visit 1735marketstreet.com.