Tenant representative Micheal Palmer, senior vice president withCB Richard Ellis' Houston office says Banta's lease at 6315 West byNorthwest was due to expire in late 2009. When property ownerClaymoore Northwest Inc. represented by managing director BrianGammill with Transwestern's Houston office wanted to renegotiate anearlier deal, Banta was willing to cooperate.

Though specific financial details were not available, similarair-conditioned industrial space in the northwest submarket canlease for between $.50 per square foot and $.55 per square foot,net. There were negligible TIs with the Banta lease. "The space hadbeen very well maintained," says Palmer, who worked with CBRE vicepresident John Simons and associate Susana Rosas on behalf ofDallas-based Claymoore Northwest.

Palmer tells GlobeSt.com Banta was also considering relocation,especially given the consequences of the current market slowdown.The economic situation has put downward pressure on rents whileslowing down leasing velocity and effectively making this atenant's market.