San Antonio-based Koontz McCombs LLC, New York City's Blackacre Capital Management LLC and Insignia Financial Group Inc. is the building owner. Insignia/ESG is a major player in the telecom market, currently managing more than five million sf of telecom space in Houston, San Antonio, Chicago, New York and Atlanta.

Derek Beck and Jerald King of Insignia handled the lease negotiations. Beck tells GlobeSt.com the telecom hotel is quoting annual lease rates from $11.20 per sf to $12.50 per sf triple net. Beck's mum about lease terms, but the ads place terms from five to 15 years.

This size lease, says Beck, is extremely significant considering today's rough market for telecom product. And though times are tough, Beck says he is noticing more technology providers and data centers are turning to telecom space for back-up facilities.