City Center Lehigh Valley Announces First Tenant For Planned "One City Center" Office And Retail Building
Legal Firm Davison & McCarthy, P.C., First to Claim Space in $50 Million Class A Office Building Due to Open Near Allentown Arena Around September 2013
January 19, 2012 (Newswire.com) - Center Lehigh Valley, a major mixed-use development in downtown Allentown, Pa., announced today that the legal firm of Davison & McCarthy, P.C., is the first company that will become a tenant of One City Center, the $50 million Class A office it will soon construct on 7th Street between Hamilton and Walnut Streets. The announcement was made by Jim Harbaugh, executive vice president and COO of City Center Lehigh Valley.
Davison & McCarthy will occupy up to 10,000 square feet of the five-story, 200,000-square-foot office and retail building that will include a 570-space underground parking garage. The firm's 13 employees will be among up to 700-plus workers who could occupy One City Center at its opening near September 2013, around the date Allentown's arena at 7th and Hamilton streets is scheduled to start serving as home to the Phantoms, the Philadelphia Flyers' top minor league affiliate.
"The attorneys and staff of Davison & McCarthy are long-time residents of the Lehigh Valley. We are committed to serving the legal needs of our community and contributing to the dynamic growth of this region," said Dennis McCarthy, the firm's managing partner. "Leasing space in One City Center provides an exciting opportunity for growth and fits perfectly within our mission of serving our clients in the Lehigh Valley."
Formed in 2006 by Maxwell Davison and Dennis McCarthy, Davison & McCarthy currently has nine lawyers and three paralegals. The firm represents individuals, businesses, municipalities and nonprofit institutions in this area and beyond. Its ranks include Davison, a former Pennsylvania trial court judge with a judicial career spanning nearly 20 years, along with board members of prominent organizations, a county commissioner, instructors at local colleges, published authors, elected officials, law clerks and more.
"We're thrilled to welcome Davison & McCarthy to One City Center and applaud their vision and commitment to helping revitalize downtown Allentown," Harbaugh said. "We fully expect that the firm's decision will help City Center Lehigh Valley attract other quality tenants seeking appealing lease rates, great amenities and to be part of the tremendous excitement around the rebirth of this great city."
Preconstruction site work for One City Center, including geotechnical testing and site surveying, began Dec. 10, 2011, with construction scheduled to begin this summer. The building will offer flexible floors of up to approximately 40,000 square feet and will integrate the following amenities:
ïƒ˜ Competitive lease rates of $10-12 per square foot
ïƒ˜ Connected parking beneath the building
ïƒ˜ State-of-the-art security and staffed lobbies
ïƒ˜ Just steps away from Allentown's new arena, the Lehigh County Government Center and other prime locations
ïƒ˜ Retail shops on the first floor and green space over the parking garage
The first phase of City Center Lehigh Valley includes flexible plans for up to 200 luxury apartments, a minimum of 250,000 square feet of Class A office space and 50,000 square feet of upscale retail space. City Center is a project of City Center Investment Corp., a real estate development and management company based in Allentown and led by developer J.B. Reilly, who has owned the property for the One City Center building since 1999. With plans for future phases, City Center Investment Corp. bought several properties near the arena site in 2011, using a $20 million credit line provided by the Allentown Commercial Industrial Development Authority, which, through Neighborhood Improvement Zone legislation, will be at least partially retired using state and local taxes paid by City Center tenants.
Categories: Real Estate