"This lease is a sign of the momentum that is beginning to build in this area," says CB Richard Ellis first vice president David Machlin. CBRE represented property owner, the Estate of James Campbell, Hawaii in the deal. "Large blocks of quality space are beginning to diminish as the economic recovery continues to progress." Financial terms of Northrop's lease have not been disclosed; however, Advantis records the average rent for class A office space in the area at $26.25 per sf.
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