Regions Midatlantic | Philadephia
Deal Marks Biggest Lease in Pennsylvania Route 202 Corridor This Year
May 14, 2008

ING North America has just signed a lease with the U.S.-based real estate group of Investcorp for just over 30,700 square feet of space in the 89,900-square-foot office building at 100 Deerfield Lane in Malvern, Pa., just 40 minute from Philadelphia. The financial institution's commitment to space at the Class A property marks the largest lease in the Pennsylvania Route 202 Corridor submarket so far this year. Jackson Cross Partners L.L.C. orchestrated the transaction on behalf of Investcorp. Financial terms of the deal have not been disclosed; however, the cost of office space in the increasingly tight Malvern market currently ranges from $21.50 to $24 per-square-foot. With ING's lease, 100 Deerfield is 75 percent leased. Other commitments for the remaining space in the building, which is also home to USA Technologies Inc. and Suburban Realtors Inc., are in the works.

 
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