PHILADELPHIA, Nov. 2 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE: SUN)
announced today that the Company has entered into a long-term lease agreement
for approximately 44,000 square feet at 1818 Market Street for an operations
center consisting of up to 185 employees who will relocate from Ten Penn
Center. The terms of the lease were not disclosed. Tactix Real Estate
Advisors, LLP represented Sunoco in the transaction.
(Logo: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006 )
"We are very pleased with the excellent office space that our operations
center employees will occupy at 1818 Market Street," said Senior Vice
President Charles K. Valutas. "This move, along with the previously announced
decision to move Sunoco's corporate headquarters to the Mellon Bank Center,
will complete the relocation from Ten Penn Center."
The move of the operations center, the business units and corporate
functions is expected to be completed by the summer of 2005. Since 1980, the
Company had offices at Ten Penn Center, 1801 Market Street. Radnor
Corporation, a Sunoco subsidiary, was the developer of that site. In 1991 the
Company's corporate headquarters was relocated from the Radnor Corporate
Center to Ten Penn Center.
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer
and marketer of petroleum and petrochemical products. With 890,000 barrels
per day of refining capacity, over 4,800 retail sites selling gasoline and
convenience items, over 4,500 miles of crude oil and refined product owned and
operated pipelines and 37 product terminals, Sunoco is one of the largest
independent refiner-marketers in the United States. Sunoco is a significant
manufacturer of petrochemicals with annual sales of approximately five billion
pounds, largely chemical intermediates used to make fibers, plastics, film and
resins. Utilizing a unique, patented technology, Sunoco also manufactures two
million tons annually of high-quality metallurgical-grade coke for use in the
steel industry. For additional information visit Sunoco's Web site at
http://www.SunocoInc.com.
SOURCE Sunoco, Inc.
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Related links:
http://www.SunocoInc.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/829144.html
CONTACT:
Jerry Davis (media), +1-215-977-6298, or
Terry Delaney (investors), +1-215-977-6106, both of Sunoco
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