A confidentiality pact is keeping dealmakers from discussing the just-inked lease, but GlobeSt.com has confirmed that the original tenant has been bed down for awhile longer in the complex's 5040 Riverside Dr. building. Sprint Nextel has a data center in half of the four-story building, with the balance dedicated to other office functions.

Westmount Realty Capital LLC of Dallas and Newport Beach, CA equity backer Buchanan Street Partners have invested $3 million into renovating the 458,906-sf complex for a repositioning after buying it with occupancy below the 50% mark in February 2006. Sprint is the second full-building lease this year for the complex, positioned at the intersection of Riverside Drive and Texas 114 in the Las Colinas Urban Center. In February, Waterloo, Ontario-based Research in Motion leased an 84,868-sf building for its new US headquarters.

Riverside Commons, formerly Waterside Commons, has been Sprint's operations base for decades. The 12.9-acre complex, built in 1984 and expanded in 1987, swung to multi-tenant use so the new owners could leverage their investment into the largest multi-building office campus in the urban center. The cap-ex has brought an on-site, full-service cafe, fitness center with locker rooms and showers, conference room, 50-seat training facility and manned 24/7 security station.

Marti Nemer, senior vice president for Jones Lang LaSalle in Dallas, represented Sprint Nextel at the bargaining table. On the owners' side were Capstar Commercial Real Estate Services principal Johnny Johnson and senior vice president Trey Smith.