PSS Building owner Liberty Property Trust didn't disclose lease terms but area brokers tell GlobeSt.com the gross rent negotiated was probably at $20 per sf. Mohr Partners Inc. of Dallas negotiated the renewal for PSS.
"After investigating relocation options that included both build-to-suit and available space in existing office buildings, we ultimately produced cost-saving opportunities and market favorable rates that made the current location most advantageous" to the tenant, says Mohr broker John McDaniel. Bob Mohr worked with McDaniel on the transaction.
The four-story, class A building has served as PSS corporate headquarters for eight years, Mohr says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.