Beacon Completes Three Leases at One Bala Ave. Bringing Occupancy Rate to 96%
BALA CYNWYD, PA – Gene McHale and Mike Flynn of Beacon Commercial Real Estate, LLC. have negotiated a 7,850 square foot lease on behalf of the Landlord, One Bala Ave., L.P. at One Bala Ave. in Bala Cynwyd. The Tenant, Omnicron Consulting Inc., was represented by Ryan Connor and Judson Wambold of Tactix Real Estate Advisors, LLC.
Relocating from Center City Philadelphia, Omnicron chose this location in Bala Cynwyd for the building’s efficient floor plates, its excellent on-site ownership and the area’s convenience to major highways. Omnicron will be occupying the entire 4th floor of the 43,840 square foot building in December 2008. This transaction brings the building’s occupancy rate to 96%, compared to 72% occupancy when Beacon Commercial Real Estate took over as the listing agent for this property in February 2008.
In a second transaction, McHale and Flynn negotiate the renewal and expansion of Waddell & Reed on the fifth floor of One Bala Ave. Waddell & Reed will expand its office space from 1,553 square feet to 2,003. Bill Earley of First Scout Realty Advisors represented Waddell & Reed in the transaction.
McHale and Flynn also represented the Landlord in the 5-year renewal of PSI, a 986 SF tenant on the 3rd floor of the building. PSI’s space in One Bala Ave. serves as one of the company’s testing center locations.
About Beacon Commercial Real Estate, LLC
Now in its 12th year of business, Beacon Commercial Real Estate is a privately-owned and managed, full-service commercial real estate firm headquartered in Conshohocken, Pennsylvania. Recognized in the industry as one of the Philadelphia region’s top firms, Beacon Commercial Real Estate, LLC completed over 150 real estate transactions during the 2007 calendar year. Its principals, who combined own more than 75 years of experience, have put forth a mission of personally connecting to clients. For additional information, call (610) 828-0100 or log on to www.beaconcre.com.