The latest tenant is Revance Therapeutics Inc., a specialtypharmaceutical company focused on the development andcommercialization of products for the aesthetic medicine andpersonal wellness categories. The company has agreed to leaseapproximately 90,000 sf on a long-term basis. It will relocate tothe building from 2400 Bayshore Parkway in Mountain View, CA.

In December, Risk Management Solutions, which providescatastrophic risk assessment for the insurance industry, signed a12-year headquarters lease for 103,000 sf. The lease is for twiceas much space as its current Newark headquarters lease at BridgewayTechnology Center, which expires in late 2010. Its lease rate therewill average $46.28 over the remainder of the lease, according toSEC filings.

The negotiated lease rates at pacific Research Center have notbeen released but are well less than that. Jim McPhee, one of theCushman & Wakefield brokers marketing the development, tellsGlobeSt.com the pro forma triple-net asking rate for office spacein the park is $2.75 per sf per month ($33 per sf per year),assuming a five- to 10-year lease and a plus-$100-per-sf tenantimprovement allowance.