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.

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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.

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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.

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"There were sites that were considered," Palmer acknowledges."Ultimately, the landlord was aggressive and timely, and they madeus a wonderful offer. Both parties, I think, appreciate theopportunity to renew early."

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Transwestern built the single-tenant industrial building in1999, which Banta took upon completion. Claymoore Northwest Inc.bought the asset as part of an industrial portfolio in 2004.

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Palmer says with the economy continuing on a downward trend,building owners and managers are likely going to have to takeproactive steps to keep tenants. "Tenants should be looking at whatkinds of deals they can get in this market, while landlords need toconsider what they can do before the lease term is up to gettenants to stay," he adds.

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