Philadelphia-based real estate services company AthenianRazak has assumed the master lease for all retail space owned by the Southeastern Pennsylvania Transportation Authority in its Suburban Station Concourse, the company said in a release on Wednesday.

The master lease gives AthenianRazak responsibility for retail tenants at the Center City concourse, which is currently home to 24 shops, including Milkhouse, Dunkin Donuts and Au Bon Pain, according to the release.

The company, which is partnering with Philadelphia brokerage Winig Properties as its leasing agent at the concourse, will seek to create "a long-term vision" for the space, in addition to its standard management tasks, it said.

AthenianRazak has toured similarly situated facilities, including the Turnstyle Columbus Circle underground shopping concourse in New York, for ideas that it can apply to Suburban Station, Peter Hanson, SEPTA's manager for office space facilities, said in an interview.

"Those are some of the things we're looking into bringing to Suburban Station to make it more viable and more vibrant," Hanson said.

Two new tenants have signed letters of intent to lease now-vacant retail spaces at the concourse since AthenianRazak took over the master lease in March, Hanson saidOne is Tiffany's Bakery, which now has a branch in a section of the Gallery at Market East that remains open during the shopping mall's redevelopment. 

Hanson declined to identify the other potential Suburban Station tenant.

AthenianRazak and SEPTA also are considering adding more retail space to the concourse within the 16th and 17th Street corridor sections the transit agency began maintaining last year on behalf of the city, which owns the properties.   

Hanson said AthenianRazak took over the Suburban Station retail operations from a division of U.S. Equities Realty LLC of Chicago, which also had managed shops at Amtrak's 30th Street Station in Philadelphia and Union Station in New York.

That division, known as MetroMarket Management LLC, had held the Suburban Station master lease since 2000. U.S. Equities has since been acquired by CBRE.

AthenianRazak was selected by SEPTA from a field of three bidders for the master lease, Hanson said. The company was also on the development team for the Philadelphia 76ers' new training complex in Camden and has advised Montgomery County officials on their redevelopment strategy for central Norristown.