ChartOne renewed a second five-year pact at 1004 Avenue N in Plano after the Chicago-based First Industrial Realty Trust Inc. put up "an aggressive offer that had the right concessions on the table to keep them as a long-term tenant," Seth Weinstein, principal in Dallas-based Predium, tells GlobeSt.com. He says the new deal shaved 20% off the 1999 rate. First Industrial had in-house marketing and leasing manager, Mark S.K. Aller, in charge of negotiations.
Weinstein says ChartOne, a management solutions provider and medical records storage operation, last year searched north to Allen and south to Richardson as it opened talks for an early renewal. The longer it took, the more aggressive First Industrial got with its offer for the Plano complex, according to Weinstein.
ChartOne shares the 60,067-sf building with Yuma Arizona. The fully leased Plano Crossing development is 215,672 sf of flex tech space. Similar space in the suburb is leasing for roughly $8.50 per sf, based on second-quarter market reports.
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