Its soon-to-be new regional headquarters was built in 1982. Vacancy in the building is currently less than 5%. The negotiated lease rate was not released by the parties involved. Local sources tell GlobeSt.com the full-service asking lease rate immediately prior to lease negotiations was $30 per sf.
PMA chief operating officer Steve Hennessey says the new space is more functional and that the tenant improvement allowance will allow the company to build out the space to fit its specific needs. The resulting efficiencies "will result in a significant savings over the term of our lease," he says.
Jacque Ducharme and Matt Hart with the tenant-focused firm Studley and Bryce Mason of KBM Partners represented PMA. Rreef was represented in-house by Lisa Vogel in cooperation with Trent Holsman of Colliers International.
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