AUSTIN–Pharmaceutical Product Development hasleased 224,979 square feet at MetCenter 10. The multi-year leasewill fill nearly 65% of the 345,600-square-foot building that ispart of the 550-acre mixed-use MetCenter BusinessPark.

National Asset Services represented the 29Co-Owner Tenants in Common in the transaction.

"This successful transaction reinforces National Asset Services'reputation as having expertise in tenant retention, whilereaffirming our ability to successfully negotiate a lease thatbrings a tremendous amount of additional present and future valueto the property and ultimately to our clients," saysShirlee Kingsley, vice president of National AssetServices. "This lease renewal ensures stable long term cash flowthat allowed the ownership to extinguish 100% of the existing debtby securing a new loan with more competitive terms while avoiding amaturity default of the existing loan."