Joe Steffa Of Spring EQ Signs 10-Year Lease For 27,000 Square Feet At 2929 Arch Street

This transaction involves an office lease for 27,000 square feet located at 2929 Arch Street in Philadelphia, PA. The asset is managed by Brandywine Realty Trust and features a 10-year lease agreement signed by the tenant, Spring EQ. The transaction marks a significant operation for the tenant as it signifies a relocation for a substantial workforce.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 2929 Arch Street
• Market: Philadelphia, PA
• Landlord: Brandywine Realty Trust
• Tenant: Joe Steffa - Spring EQ
• Lease Term: 10 years
• Square Footage: 27,000

The deal highlights Joe Steffa, representing Spring EQ, which is consolidating around 250 employees from existing offices in Conshohocken, Pennsylvania, and Mount Laurel, New Jersey. This strategic move follows the acquisition of Spring EQ by Cerberus Capital Management in 2023, enabling the firm to combine its sales, operations, and technology teams into a single location.