American Metro Center Sees 63,000 SF of Leases

For all four signings, the ownership was represented in-house by Lincoln Equities Robert Fisher and Susan Lulla. Terms were not released; available space is listed on Lincoln Equities' website with an asking price of $25.50 per sf.

In the largest of the signings, Consolidation Services Group, a medical claims firm, has taken 37,490 sf. The tenant was represented by Richard Gittleman of Triad Properties. And the law firm of Flaster Greenberg, represented by John Sarkisian and Anthony LiVecchi, took 11,332 sf.

Also, the consulting firm Hase/Schannen Research Associates, represented by Robert Bull and Michael Kennedy of Studley, took a 7,974-sf space. Finally, Headwaters Inc., a natural resources consulting firm, signed on for 6,322 sf. Headwaters was represented by Paul Vlecides of CB Richard Ellis.

"We have seen a strong leasing demand at this property since the acquisition of the building in May," says Andrew Nathan, principal of Meritage Properties. "We are also currently developing a pre-built 10,825-sf unit that would offer a tenant a turnkey solution with immediate occupancy and no construction and design obstacles."

As reported by GlobeSt.com, the current owners bought it this past May from Preferred Real Estate Investments. The sale price was not disclosed, but various sources put the number in the $60-million to $70-million range. PREI itself had acquired the site from American Standard in 2004 for a reported $50 million, subsequently reducing the 112-acre site's building stock from 750,000 sf to 450,000 sf and redeveloping it as a class A office complex.