As part of the deal, the seller will retain about 50,000 sf ofthe flex office space through a lease that is still beingfinalized. A press release from John C. Lincoln Health Network saysthe remaining space at 2500 W. Utopia Rd. will be upgraded and usedto house patient financial services, accounting, networkadministration human resources, information technology and the JohnC. Lincoln Health Foundation. The renovation and move-in timeframesare pending. The deal included a 20-acre parcel that John C.Lincoln Health Network will bank for future growth of its DeerValley Hospital campus.

A source familiar with the transaction says the building came online as a build-to-suit in the early 1980s for AG CommunicationSystems, which used it as a headquarters and research anddevelopment location. The company was acquired by Lucent Technologyand is now a subsidiary of Alcatel-Lucent. The source tellsGlobeSt.com that Alcatel-Lucent didn't need as much space, whichprobably is what prompted the sale.

"This ended up being a great deal for John C. Lincoln," thesource says. "It saves them considerable time in having toredevelop or build from the ground up. This also helped the sellersin that they could remain in the building. It would have beenexpensive and difficult for them to relocate."