"That is the largest amount of leases we've done," Krista Upham, one of two Transwestern Commercial Services brokers who has handled the deals." The contracts, she told GlobeSt.com, average five years and the space is going for an average of $16.50 per sf. In May, Transwestern had assumed the leasing duties for the office structure, owned by United States Fidelity and Guaranty Co.
St. Paul Fire and Marine Insurance has renewed its 27,443-sf lease and is taking another 3,054 sf for an expansion. Titan Insurance also has renewed its lease for 17,386 sf.The multi-cultural advertising agency, Inventiva, has signed for 6,013 sf. Its clients include SBC, San Antonio Visitors and Conventions Bureau, RJR, Delta/Peerless Faucets and American Electric & Power. Inventiva has been represented by First American Commercial Property Group.
An undisclosed lessee is taking 7,056 sf while Hall Management Group Inc., dba Seniors 2000, will be occupying 1,051 sf. American Credit Consulting has signed for 1,346 sf and State Rep. Elizabeth Ames Jones, 785 sf. All new tenants are relocating from other offices within the northeast submarket, says Upham.
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