WCRE completes 10,500 sq. ft office sublease for ReachMobi and FiveBelow

WCRE on Wednesday said it exclusively represented ReachMobi in the subleasing of 10,500 square feet of office space located at the Lits Building, 701 Market St., Philadelphia, from Five Below in its corporate headquarters.

ReachMobi develops apps that enable end users to be more efficient, operate their devices more simply and connect to sites that more accurately reflect their interest.

Five Below was founded in Philadelphia and has quickly become an iconic national retail brand. Opening its first store in Wayne, Pennsylvania, in 2002, Five Below now has over 1,200 stores and is in 40 states. The store that offers fun products for $5 or less has become ubiquitous for U.S. teen culture.

Five Below relocated its corporate HQ to 701 Market in 2016, a property that features open, exposed ceilings, exposed brick and beam and a now famous employee amenity space named “Wow Town.”

701 Market itself is a famous asset. Originally constructed in 1893 for the Lit Brothers’ Department Store, the property contains 718,000 square feet, including office and retail space. Brickstone purchased the building in 1989 and transformed the original structure and eight others on the block into the modern office and retail building it is today. Brickstone rebranded the building as the Lits Building and refurbished the common areas and office space into modern, exposed brick and beam space, highly sought after by employers to attract and retain talent.

The leasing of this office space adds to WCRE’s growing number of successful office transactions in the Philadelphia market, led by Todd Monahan, executive vice president and managing director, who exclusively represented the subtenant in this transaction.