Jefferson to Anchor 1101 Market Street in Philadelphia

15 December 2017

PHILADELPHIA (December 15, 2017) – Savills Studley, the leading commercial real estate firm specializing in tenant representation, announced that it has negotiated a 237,000-square-foot lease for Jefferson. In the largest new CBD Lease of 2017, Jefferson will anchor 1101 Market Street, which will be renamed as Jefferson Tower.

Following mergers with Abington Health, Aria Health, Kennedy Health System and Philadelphia University, and completion of its overall Master Plan, Jefferson will unify the enterprise’s corporate services in the new headquarters facility. Upon initial occupancy, Jefferson will occupy 40% of Jefferson Tower at the top of the building with the option for substantial expansion over time. The building is located directly on top of SEPTA’s Jefferson Station and two blocks from Jefferson’s main campus. The landlord of Jefferson Tower, Girard Estate will renovate the lobby, add a direct connection to the Jefferson Station concourse and replace the building’s signage with Jefferson signage.

Savills Studley’s Senior Vice President and Philadelphia Branch Manager Hether Smith, Corporate Managing Director Cathy Pullen and Managing Director Jay Joyce represented Jefferson in the transaction. Joshua Sloan, David Healy and Alex Breitmayer of JLL represented the landlord.

“Jefferson was faced with the challenge of integrating the corporate staff of multiple organizations in a central location following several large mergers,” said Smith. “After an extensive search of the greater Philadelphia, Delaware and Southern New Jersey region, 1101 Market Street stood out as the perfect solution to bring the new entity’s central services staff together under one roof. The building’s proximity to Jefferson’s main campus, extremely cost-effective transaction terms, location above the central transportation hub at Jefferson Station and iconic rooftop branding rights we secured for one of Philadelphia’s most visible buildings will make Jefferson Tower the ideal location as Jefferson and its partners commence a new chapter as a unified health organization.”

 
 

Key Contacts

Molly Ferrer

Molly Ferrer

Public Relations Manager

Savills Studley - New York

+1 212 326-1024