Binswanger/CBB negotiated a 15 1/2-year lease agreement on behalf of Comcast Corp. for 534,000 square feet at the future Comcast Center to be built in Philadelphia, Pa.

The value of the transaction was not disclosed.

Liberty Property Trust will own the 1.2 million-square-foot building, located at 1701 John F. Kennedy Blvd.

Construction on the 57-story, 975-foot tower is scheduled to commence in mid-January 2005 and to reach completion by fall of 2007. Comcast will occupy 24 floors of class A office space. This new headquarters will include research and development laboratories, technology demonstration areas, employee training areas and Comcast University. The building will also feature on-site parking, a tie-in to the commuter rail station and retail opportunities.

Comcast Corp. is a provider of cable, entertainment and communications products and services. The corporation also owns Comcast SportsNet, E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network and G4techTV.

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

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