Exclusive: Tax Credits Lure Big Accounting Firm to Center City From Suburbs

EisnerAmper will relocate its main local office from Jenkintown to One Logan Square in Center City, becoming the first business to apply for and receive the newly-enhanced Philadelphia Job Creation Tax Credit passed in October by Philadelphia City Council.

The accounting firm will consolidate its main office at 101 West Avenue in Jenkintown and a Center City satellite location at Two Logan Square to One Logan, where it signed a 15-year lease with with Brandywine Realty Trust (NYSE:BDN) for approximately 42,000 square feet of space on the 29th and 30th floors — the top two floors in the building that overlooks the Ben Franklin Parkway. The firm will make the move in November 2015, a month after the Jenkintown lease expires.

The deal, brokered by Jeff Seligsohn of SSH Real Estate, was partly made possible by the tax credit program that will give EisnerAmper a $5,000 tax break for every new job it brings to the city for the first five years of the lease. Prior to city council amending the jobs creation tax credits in October, recipients were only eligible for the tax break for one year.

Read the full story here.

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