The tenants were 24 Hour Fitness, which signed for 24,474 square feet 2033 N. Main St. in Walnut Creek; Round Table Pizza, which renewed for 18,894 square feet at 1320 Willow Pass Rd. in Concord; and the CPA firm Thomas, Wirig, Doll & Co., which signed for 16,846 square feet at 165-175 Lennon Lane in Walnut Creek.

The 24 Hour Fitness existing lease had 18 months remaining, and the firm negotiated a five-year extension. Round Table, whose lease is for its corporate headquarters, added seven and a half years to its lease. Thomas, Wirig, Doll & Co. restructured its lease to add seven years.

All three tenants were represented by Kevin Mechelke, managing director in the Walnut Creek office of Jones Lang LaSalle, who worked in conjunction with Tom Maloney and Michael Sharapata. Mechelke says the leases reflect the growing interest among landlords and tenants alike to renegotiate and extend existing leases.

"Stable tenants with good credit have a terrific opportunity' to cut their occupancy costs in a way that will "help their businesses as the economy gradually improves," Mechelke says. Tenants can achieve these savings by renewing early and extending their leases, he points out. "In a period of increasing vacancy and difficult debt markets, many landlords are motivated to stabilize income from their properties with the certainty of rental income over the next three to seven years in return for up-front concessions," he explains.

Tenants may also have the added benefit of being able to access landlord-funded tenant improvement dollars today, rather than at the end of the existing lease term, Mechelke pointed out.