It didn't take long to fill three floors of vacant space at the National City Center tower Downtown.
Reed Smith LP, one of the city's largest law firms, said Tuesday it signed a 10-year lease to move about 300 employees into 55,000-square-feet of space formerly occupied by National City Corp. at the 20-story building at 11 Stanwix St.
"It's a testiment to the strength of the Downtown office market that it took just over three weeks to find a new tenant to fill National City's space," said Jeremy Kronman of CB Richard Ellis/Pittsburgh, leasing agent for the 327,000-square-foot building.
The Reed Smith move is separate from its previously announced plan to relocate its main Pittsburgh headquarters. About 325 employees will move from the James H. Reed Building at 435 Sixth Ave. to 183,690 square feet of space on seven floors of the $179 million Three PNC Plaza under construction at Fifth Avenue and Market Street in June 2009.
A majority of the employees moving to the National City Center will be coming from the Gulf Tower on Grant Street, said Jamie Moss, a spokeswoman for the law firm. About 75 employees will be coming from the 435 Sixth Ave. site.
Cleveland-based National City still occupies five floors in the National City Center. It hired Dan Adamski, commercial broker with Jones Lang LaSalle, to market its excess space, plus an additional 100,000-square feet at Allegheny Center on the North Side.
It's not yet clear what impact PNC Financial Services Group Inc.'s $5.6 billion deal to acquire National City will have on its use of local office space.
PNC has said it does not expect the merger will cost any jobs in Pittsburgh. Real estate experts say the local market could benefit if PNC consolidates in Pittsburgh any of National City's operations from its base in Cleveland.
Counting National City's space, the National City Center is 94 percent occupied, he said.
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