The new deal for backgroundchecks.com holds the same expiration date in 2014, David Hughes, Banner Place's leasing agent with Gaedeke Group, tells GlobeSt,com. To make the deal work, a tenant on the 11th floor was relocated to get a contiguous block large enough for the firm's expansion in the 12770 Coit Rd. office building, according to Hughes. The firm plans to hire up to 50 more workers in the coming year.
Hughes says the stair-stepped lease anted up $18 per sf for the finish-out allowance. Chuck Green with Chuck Green & Associates of Dallas represented backgroundchecks.com, which started out in a 3,100-sf office in 2004.
The expansion pact boosts occupancy to 81% in the 12-story, 280,432-sf office building, owned by Gaedeke Holdings II Ltd. and leased and managed by its affiliate, Gaedeke Group. The building's quoted rent is $16 per sf to $17 per sf.
Hughes says the hurdle to overcome was relocating an existing tenant. "It's a growing tenant so that's a good problem to have," he says.
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