Flaster Greenberg has signed an eight-year lease to relocate its Philadelphia office to Three Logan Square, where it will take 16,000 square feet of space on the 33rd floor and have an option to absorb the remaining 4,000 square feet to accommodate potential growth.
Financial terms of the deal were not revealed. The move becomes effective on Feb. 1.
Since October 2016, the Cherry Hill-based law firm has occupied 10,000 square feet at 1835 Market. Co-Managing Partner Jordan LaVine said the firm had originally signed a five-year lease at 1835 Market. It was set to expire this past Jan. 31 but the firm asked for a one-year extension to see how the office space market shook out post-pandemic.
LaVine said Flaster looked at numerous options but ultimately went with Three Logan partly because it was already fitted for a law firm. Flaster is subletting the space from Reed Smith, which signed a long-term lease in 2011 on 115,000 square feet on floors 28 through 33 at the signature office building. It moved in 2014. The Philadelphia Business Journal reported earlier this year that Reed Smith was looking to give-back some space at Three Logan.
Reed Smith Chief Operating Officer Nick Bagiatis said in a statement the firm will downsize from six floors to five in the building.
*Article courtesy of Philadelphia Business Journal
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