Faegre Drinker partner Jerald Goodman led the team that represented global property and casualty insurance giant Chubb in the new Chubb Center deal that has been honored as a Philadelphia Business Journal’s 2022 “Best Real Estate Deal.” This annual award honors the Best Real Estate Deals in Greater Philadelphia, including the individuals and people behind them.
Goodman and a team of real estate attorneys represented Chubb in connection with a build-to-suit lease of an 18-story building at 2000 Arch Street containing over 450,000 square feet of office space to serve as its new Philadelphia headquarters. The complex lease was structured as a credit tenant lease which facilitated favorable financing terms for the construction and design costs. Upon completion in late 2025, the building will house over 3,000 employees and will be Chubb’s largest office in North America. Despite several challenges due to COVID-19, Goodman and the team worked on the lease for three years with construction commencing in February 2023.
In addition to Jerald Goodman, the team included real estate attorneys Adrian Ciacci, Allen Wheeler, Reuben Asia, Steve Anella, Joseph Whitney and paralegal Denise Ciampitti
Honorees were determined by an outside panel of judges and were recognized at the Philadelphia Business Journal’s annual Best Real Estate Deals and Dealmaker awards program on March 30, 2023.
Faegre Drinker’s Philadelphia real estate deal team is one of three projects that took top marks in the office category of this year's Best Real Estate Deals awards program. The complete list of Best Real Estate Deals “2022 office winners” can be viewed here.
The full article is available for Philadelphia Business Journal subscribers.