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Galbreath Co. brokers lease for Kidder Peabody in Philly.

Galbreath Co. brokers lease for Kidder Peabody in Philly

In a transaction arranged by The Galbreath Company, the international investment banking firm Kidder, Peabody has signed a 26,000-square-foot lease at Centre Square in Philadelphia's Center City. Peter Ricker, president, made the announcement.

Upon its arrival in the local market last fall, Galbreath was appointed exclusive leasing and managing agent for the two--tower, 2 million-square-foot project, owned by Metropolitan Life Insurance Company and C.C. Industries, Inc. Galbreath has already succeeded in bringing the 36-story East Tower to full occupancy. The Kidder transaction is the first consummated by Galbreath in the 43story West Tower.

Wayne Hunt, senior managing director, Roger Kahn and Joshua Sloan, managing directors, negotiated the 10-year lease on behalf of the building owner. Andrew Davidoff of Jones Lang wootton represented the tenant.

Kidder, Peabody joins a prestigious roster of West Tower tenants including the law firm Saul, Ewing, Remick & Saul, which occupies 90,000 square feet; and First Pennsylvania Bank, which occupies 506,000 square feet, plus 94,000 square feet of retail and vault space.

Tenants in the East Tower include the international consulting firm Towers Perrin, and Continental Bank.

Galbreath has since captured exclusive appointments at 2000 Market Street and 1500 Walnut Street, also in Center City.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Date:May 15, 1991
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