Daymark Signs Long Term Lease with Retailer Five Below At 1818 Market Street in Philadelphia

Jan. 26, 2012 - PRLog -- Daymark Realty Advisors, a leading provider of strategic asset, property management and structured finance solutions for owners of commercial real estate, today announced a new 35,400 square-foot, 120-month lease agreement with leading retailer, Five Below, at 1818 Market Street in Philadelphia. This location will serve as the tenant’s new corporate headquarters. The lease includes an option to expand to a total of 60,000 square feet on two floors.  

Daymark manages 1818 Market Street, a 37-story class A office tower located in the heart of Philadelphia’s Downtown Business District, on behalf of individual owners.

Currently with 192 locations in 16 states and growing rapidly, Five Below is a leading retailer of trend-right, extreme-value merchandise geared to the teen and pre-teen markets. Its dynamic product assortment includes everything from sporting goods, games, fashion accessories and jewelry, to collectibles, bath/body products, room décor and video game accessories. Five Below combines exceptional value with trend-right, quality merchandise in a vibrant shopping environment. The company was founded by David Schlessinger, founder of Encore Books and Zany Brainy, along with Tom Vellios, former CEO of Zany Brainy.

According to Mike Waddell, executive vice president, asset management, today’s tenants sometimes have challenging and unique space needs that Daymark’s entire management team thrives on meeting. “We truly enjoyed working with the Five Below team to make their custom designed space a reality within their needed timeframe, and we couldn’t be more pleased to have a successful and growing retailer of their caliber join 1818 Market’s impressive tenant mix and business community,” Waddell says. With the addition, 1818 Market is over 83 percent leased.

The prominent 1818 Market Street building offers approximately 983,000 square feet of rentable space and features numerous on-site amenities including a restaurant with plaza seating, two full-service banks, 24-hour security, a dental office and sundry shop, and ample parking. Other tenants in the building include eResearch, American College of Radiology, Sunoco Logistics, Zurich American Insurance and Merrill Lynch.

About Daymark Realty Advisors, Inc.
Daymark Realty Advisors, Inc. is one of the country’s leading providers of strategic asset management and structured finance services to private and institutional owners of commercial real estate. Daymark provides a fully integrated platform of services that focus on maximizing property value and performance, and offers proven expertise in the repositioning of distressed assets, debt restructuring and property recapitalizations. From six offices throughout the country, Daymark manages a nationwide portfolio of commercial real estate properties totaling approximately 33.3 million square feet, including more than 8,700 multifamily units, valued at $4.9 billion based on purchase price. For more information, visit www.DaymarkRealtyAdvisors.com or contact Jennifer Cho at (714) 975-2367.

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Daymark Realty Advisors, Inc. is one of the country’s leading providers of strategic asset management and structured finance services to private and institutional owners of commercial real estate. Daymark provides a fully integrated platform of services that focus on maximizing property value and performance, and offers proven expertise in the repositioning of distressed assets, debt restructuring and property recapitalizations. From six offices throughout the country, Daymark manages a nationwide portfolio of commercial real estate properties totaling approximately 33.3 million square feet, including more than 8,700 multifamily units, valued at $4.9 billion based on purchase price. For more information, visit www.DaymarkRealtyAdvisors.com or contact Jennifer Cho at (714) 975-2367.