Key Takeaways
- • Spring EQ, a Cerberus-owned lender backed by private equity, has leased a full floor at Cira Centre in Philadelphia, a space of roughly 27,000 square feet.
- • The lease allows the company to consolidate offices in Conshohocken and South Jersey, moving 250 employees to University City.
- • The move reflects the growth of a private equity-backed financial services firm consolidating its footprint into a single Philadelphia location.
Summary
Spring EQ has leased a full floor at Cira Centre in Philadelphia's University City, according to the Philadelphia Business Journal. The company, described as a growing private equity-backed firm and owned by Cerberus, will move 250 employees into a roughly 27,000-square-foot floor in the 29-story tower.
The relocation consolidates Spring EQ's existing offices in Conshohocken and South Jersey into the single Cira Centre location. The Philadelphia Business Journal reported the lease in its banking and financial services coverage. The publisher's related coverage notes that Cira Centre offers approximately 730,000 square feet of office space, with a mix of private offices and shared space.
The lease adds to recent office activity at Cira Centre, where other tenants have signed renewals and expansions in recent periods. Terms of the lease, including rent and length, were not disclosed in the available reporting.
The relocation consolidates Spring EQ's existing offices in Conshohocken and South Jersey into the single Cira Centre location. The Philadelphia Business Journal reported the lease in its banking and financial services coverage. The publisher's related coverage notes that Cira Centre offers approximately 730,000 square feet of office space, with a mix of private offices and shared space.
The lease adds to recent office activity at Cira Centre, where other tenants have signed renewals and expansions in recent periods. Terms of the lease, including rent and length, were not disclosed in the available reporting.
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