Nonprofit inks space in Philly

Binswanger/CBB negotiated the lease of 129,442 square feet of office space in Philadelphia, Pa.

The value of the transaction was not disclosed.

Vornado Realty Trust of New York, the building owner, inked the 15-year deal with the tenant, Health Partners of Philadelphia Inc.

Founded in 1985 as a not-for-profit health plan that serves more than 150,000 Medicaid and Medicare members in southeastern Pennsylvania.

Vornado plans to improve the property, located at 901 Market St., with a newly designed lobby, four passenger elevators, a new roof, windows and HVAC.

Approximately 81,000 square feet of office space was still available for lease at the time of sale.

Philadelphia-based Binswanger/CBB is an international, full-service real estate organization.

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