TAMPA, FL—It's one of the Tampa Bay area's most significantoffice leases of 2014. Trenam Kemker just inked a40,000-square-foot lease at Bank of America Plaza.

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It's significant because with the lease, the law firm keeps itscorporate headquarters in the Tampa Bay area. Trenam will occupyspace on the 22nd, 26th, and 27th floors at the class A officetower.

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JLL managing director ChrisButler and vice president Jimmy Ullrichrepresented Trenam, which is recognized as a leader among Floridalaw firms with more than 90 attorneys and ranked among the top lawfirms in size and breadth of practice. CBRE'sAnne-Marie Ayers, first vice president, andPhilip Weber, vice president, represented thelandlord.

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“In completing the lease on behalf of Trenam Kemker, we focusedon securing favorable lease terms that would allow the law firm tomodernize its office space, reflective of the move towards a moreengaging and collaborative environment that we are seeing among lawfirms nationwide,” says Butler. “Trenam Kemker represents one ofthe largest tenants in the class A office tower, making this asignificant renewal not only for the office building, but also forthe broader office market.”

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The Tampa Bay office market continues to gain strength.According to JLL, Downtown Tampa has the largest year-over-yeardecrease in direct vacancy since the turn of the century. Thecurrent vacancy rate of 13.9% is below the submarket's five-yearlow and 10-year averages of 17.2% and 17.0%, respectively,according to the firm's first quarter Office Insight report. Thereport also predicts vacancy will continue to decline this year tohit below historic averages.

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Located 101 E. Kennedy Boulevard, Bank of America office towerspans 786,419 square feet in the Tampa Central Business District.Building amenities include a café, fitness center, conferencefacility and atrium.

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“The signing is evidence of our all-in commitment to the TampaBay business community,” says Hal Mullis,president of Trenam Kemker. “We look forward to reconfiguring ourspace to take full advantage of new technologies and collaborativework environments to accommodate the unique desires of ourworkforce that is trending younger. We believe all of this willhelp us to better serve our clients.”

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