About $500,000 has been earmarked for the build-out and retrofitting of USI's existing 43,034 sf of its national headquarters, Pat McDowell of NAI/Stoneleigh Huff Brous McDowell tells GlobeSt.com. USI has been a tenant in Overton Centre I since 1993 when CMD Realty of Dallas had bought the twin office towers, totaling about 400,000 sf, on Ft. Worth's west side. They are are 85% occupied, says McDowell.
USI Administrators, a subsidiary of USI, is one of the nation's top 10 insurance claims administration companies. The parent firm is the sixth largest insurance and financial services broker in the US and 10th in the world. McDowell has represented USI. CMD Realty has used in-house broker Trey Bates to negotiate the lease extension.
In another long-term lease extension, McDowell has represented American Title Co. in a 14,000-sf pact for office space in the Bombay Building at 500 Bailey St. in the downtown. For the past two years, American Title has been subleasing the space in the 120,000-sf building, owned by the Bombay Corp., according to McDowell. William G. Behr of Trammell Crow Co.'s Ft. Worth office has acted on the building owner's behalf.
Stovall, Grandey and Whatley LLP, a public accounting firm, has leased 7,795 sf in University Center I at 1300 South University Dr. in Ft. Worth. The firm specializes inserving financial institutions. Jack Huff and Kyle Poulson of NAI/Stoneleigh Huff Brous McDowell's Fort Worth office have negotiated the lease.
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