The Newport Beach, CA-based KBS Realty Advisors ripped up an 8,702-sf pact with Edify Corp. from Santa Clara, CA to make the larger direct lease with Ascendix Technologies Inc., which was subleasing headquarters space for nearly two years in Office Alpha at 13140 Coit Rd., Benjamin Hautt, associate with Stream Realty Partners LP in Dallas, tells GlobeSt.com. "We got an aggressive deal," he says. "The landlord was willing to work with us in our situation to strike a deal for both parties." He says tenant improvements to the third-floor office will begin in a week.
Hautt and Jon Altschuler, Stream's managing director and partner, spent three months start-to-finish to bed down the deal, including the market search. Matthew Didyk with Houston-based Transwestern Commercial Services' Dallas team represents KBS. The 101,977-sf Office Alpha, with 16,229 sf vacant, is tagged with a $15 per sf, full-service rate.
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