LSI Logic, a 10-year tenant, has renewed 16,745 sf for another 64 months in a lease valued at more than $1.8 million over the term, says Brigham Black, leasing director for the San Diego-based building owner. Black says the tenant looked around, but stayed put in an "as-is" deal with a starting rate of $20.50 per sf and 50-cent bumps in each subsequent year of the contract.
LSI occupies half of a floor in the two-building property connected by an atrium. The central location for employees at 500 N. Central Expressway and building amenities were deciding factors in the decision to stay, according to Black.
"LSI was our big roll this year and we renewed them," Black says, with confidence in the property. "It's a great building and our tenants want to stay." The office complex is 86% occupied.
Malcolm Ross of Jones Lang LaSalle's Dallas office represented the Shidler Group. Greg Bendis of Trammell Crow Co.'s Dallas office represented LSI Logic, a leading designer and manufacturer of communications, consumer and storage semiconductors for applications of data, voice and video.
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