Health Care Firm Consolidates

Mark Sullivan of Studley's Downtown Los Angeles office, lead broker on the transaction, reports that as part of the acquisition last year Misys assumed a 50,000-sf lease for space that was being underutilized and was nearing expiration. Misys enlisted Studley to find space to house the software company's new product line in San Bernardino, which resulted in the decision to keep the business in its existing location in San Bernardino, a 100,0000-sf building owned by Hall Equity Group.

Besides consolidating its operation from the third and fourth floors to just the third and rescinding its rights for the fourth back to the owner, Misys won what Studley calls "a generous tenant improvement package" that allows the firm to reconstruct the one floor to accommodate its entire operation. The lease package also included a reduction in rental rates, flexible lease terms that allow the company to easily expand or contract and top positioning on the building's monument sign. Besides Sullivan, Studley brokers on the deal included Jon Christensen in the firm's Atlanta office and Andrew Lustgarten in the Downtown L.A. office. Tom Pierik of Lee & Associates represented the building owner. Misys develops and supports software and services used by doctors and others in the health care field.