A 20,000-sf ambulatory surgery center with four operating roomshas also inked space in the 95,000-sf medical office building,bringing it to more than 40% occupancy. Asking rates in thebuilding range between $15 per sf to $19 per sf, triple net,Jennifer Dresback, a developer with TCC, tells GlobeSt.com, basedon lease terms and TI dollars.

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Lewis Stoneburner Jr. and Walton Makepeace with CB RichardEllis' Richmond, VA.-based office are handling leasing for thebuilding. By the time the building delivers next Spring, Makepeacetells GlobeSt.com, it most likely will be fully or close to beingfully leased. "This is the only class A medical office inRichmond," he says.

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There are also financial incentives for prospective tenants tosign, Dresback adds. "Tenants have the opportunity to buy some ofthe equity in the building." The two tenants have not yet decidedif they want to move forward with that option, she explains.However one tenant currently negotiating for space is veryinterested in the possibility. Dresback says there is another 15%of available space under negotiation.

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Trammell Crow is developing the $21.5 millionbuilding on behalf of Partners Health Trust, a state retirementsystem advised by Morgan Stanley Real Estate, which is wholly-ownedby Trammell Crow. The architect for the project is Baskervill, ofRichmond, and the general contractor is W.M. Jordan Co., based inNewport News, VA.

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