Tenant representative and Transwestern vice president Vince Femiano tells GlobeSt.com that Fiserv's initial medium-term lease for space at 4801 E. Thistle Landing Dr. was due to expire in 2010. In response, Femiano and Transwestern tenant advisory specialists Phillip McCarthy and Keith Foery decided to take a careful look at the market to determine other options, and spent several months researching potential scenarios.

"We toured half-a-dozen good options that could have worked for us, and spent a few months doing this," Femiano tells GlobeSt.com. "We looked at even purchasing a building at one point. Ultimately, we ended up renewing."

He explains that Principal Equity offered what he termed an "aggressive economic package," and worked hard to keep Fiserv in place. Though Femiano declined to discuss the exact deal consideration, he says deals in the submarket can go for an annual rate of between $14 per square foot to $19 per square foot, triple net.

Another advantage was that the building's floorplate allowed for the addition of 15 employees. "Because of efficiencies and economics, the location worked well for us," Femiano comments.