The deal was actually signed this month.
Gates will lease the entire 10-story, 285,000-sf building at 15th and Wewatta streets for 15 years.The deal is valued at more than $130 million.
"It's a great deal for all of downtown," says Peter Llorente, regional VP for Legacy, tells GlobeSt.com "They'll be moving more than 700 people there."
And because Gates is moving from a user building in an area that has been its home for more than 90 years, the deal is "100% pure absorption for downtown," he points out.
Chuck McKenney of CRESA Partners represented Gates, while Tom Lee and Scott Garel of the Frederick Ross Co. represented Legacy and Kennedy Associates, which financed the building.
The core and shell of the building will be completed by April 30, but Gates will begin moving into it in August and November, Llorente says.
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