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