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Corporate HQ, 300 jobs leaving Center City for KofP: Update

Arkema is subletting its Market St offices and moving 300 workers and its bosses to King of Prussia

Update: Arkema Inc. is moving its headquarters and 300 bosses and workers out of 2000 Market Street, Center City and out to the suburbs. The French-owned chemical company is consolidating staff in underused buildings at its research center on First Ave. north of the King of Prussia shopping centers.

Company spokesman James Bell confirmed the move after I reported this morning that Arkema plans to leave Market Street.

Earlier: Philadelphia-based chemicals and materials maker Arkema Inc. is leaving its offices at 2000 Market Street and putting them up for rent. The 130,000 square foot space, with room for 400 employees, is being offered, at just $19 a square foot (plus electric), for sublease in 2011-15, by James Mullarkey and Les Haggett of the Newmark Knight Frank - Smith Mack agency. Mullarkey confirmed he's representing Arkema's space but wouldn't comment further.

A real estate source not connected to the company tells me Arkema is moving at least some of its staff out to King of Prussia, where Arkema has a research and development lab.

Arkema follows Sunoco and the Dow Chemical Co. unit based on the former Rohm & Haas among the Philadelphia manufacturers that have been cutting back their headquarters offices here. Arkema Inc. is the U.S. arm of France's Arkema chemical group. With 24 North American plants and around 14,000 workers, Arkema Inc. is the successor to the old Pennsylvania Salt Co.  and other businesses that were owned by France-based Elf Aquitaine and Atofina in recent years.