GVA Advantis associate of leasing services Josh Tarkownegotiated the lease on behalf of the tenant. "After carefulconsideration and an extensive search, the client and I determinedthat renewing its lease at Eisenhower Technology Park was the bestcourse of action," Tarkow says.

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The landlord, ARA Properties No. 1 Ltd. c/o Peter LawrenceCommercial Real Estate Inc., is a Florida limited partnership basedin Tampa and was represented by Cushman & Wakefield of Florida,Inc.

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The 200,000-sf Eisenhower Technology Park is located in theWestshore/Airport submarket located across from Tampa InternationalAirport. It is comprised of six flex buildings constructed between1975 and 1978.

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Tampa Bay Press' decision to renew its lease may have beenprompted by the tight conditions that currently exist in the TampaBay industrial market. According to a CB Richard Ellis marketreport for Q3, the vacancy rate was 3.7% with 1.18 million sf ofabsorption during the quarter. Average asking rental rates were$7.28 per sf. "The Tampa Bay industrial market remained healthythis quarter," the report states. "Continued demand has pushed thealready historically low vacancy rates even lower, while askingrates continued to rise."

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