The five-year deal came together when the insurer, whose lease expires in March, abandoned a plan to buy a headquarters building and decided to remain a tenant, says Rick Bailey, an associate with Grubb & Ellis Co., who represented Association along with Keith Lloyd. The locally based building owner, Zenith Financial Group Ltd., was represented by L. Ace Schlameus and Aaron Schlameus, also of Grubb & Ellis.
"They wanted to be in Westchase to be near their employees and wanted to reconfigure their space," Bailey says.
"The new building allows Association Healthcare to upgrade their image," adds Ace Schlameus. The 24-year-old building underwent significant renovations in 2004 including an upgraded lobby and common areas. The building's quoted rent is $15.50 per sf.
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