CB Richard Ellis Inc (05/26/2008) – Wayne, PA May 19, 2008 Senior Vice President Steve Italiano of CB Richard Ellis Greater Philadelphia Regional office has brokered more than 50,000 square feet of flex space in four different locations throughout Chester County, PA since January. The leases combined are worth over $2 million dollars. In the largest transaction, at 271 Lancaster Avenue in Malvern, PA, Italiano acted as the sole agent representing both the landlord, 271 LP and the tenant, Corinthian Marble and Granite. Corinthian Marble and Granite signed a five-year 23,500 square feet lease of industrial space worth over $1 million. The lease fully occupies the 80,000 square foot building. In a second transaction, representing both the tenant Luxury Without Limits, a limousine company, and the landlord Crescent Management, Inc. Italiano brokered a three-year lease at 507 Schoolhouse Lane in Kennett Square, PA. The 6,000 square foot flex space lease was worth over $200,000.
In a third lease, representing the landlord Park Valley Associates, Italiano brokered a seven-year 12,008 square foot flex space lease valued at over $750,000 at 1157 Phoenixville Pike in the Park Valley Corporate Center in West Chester, PA. The tenant, Philadelphia Newspapers, Inc., who was represented by the Flynn Company, will use the space for newspaper distribution and office space for reporters. In another West Chester deal, Italiano represented the landlord HJP in a five-year 3,750 square foot warehouse space lease to Blue Water Fishing Tackle Company. Blue Water was represented by Lieberman Earley.
