The firm of Canterbury, Stuber, Elder, Gooch & Surratt took 12,519 sf, shaving about 200 sf, with an early renewal while JPMorgan Capital Inc. OK'd a three-year pact for 4,996 sf, adding 1,135 sf to its bottom line right in sync with a lease expiration at 5005 LBJ Freeway, Kathy Permenter with Grubb & Ellis Co. tells GlobeSt.com. The deals boost occupancy to 82% in a 24-story building with a $17 per sf to $19.50 per sf quoted rate.
The 14-year-old firm moved into the building about four years ago. Its new deal was inked 18 months in advance, Permenter says. "We just wanted to go ahead and lock them in," she adds, explaining it's a retroactive package with a 66-month term. Bob Mohr with Mohr Partners Inc. in Dallas was the tenant's rep.
JPMorgan Capital, represented by Paul Whitman with Dallas-based Staubach Co., was "getting pressure to move Downtown, but we were able to keep them," Permenter says. The mortgage group, a three-year tenant in the high rise, made a case with its parent to remain autonomous from JPMorgan's other Dallas operations, she says.
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