The center, one of 14 the company has across the country, isrelatively undersized compared to other facilities. The expansionwill add 20,017 sf of space to the 74,245-sf facility, which willprimarily be used for classrooms to train new employees. Theadditional land will be used for parking space.
The center was built in 1998 with funding from CareyDiversified, a member of the W.P Carey Group. This transaction wasstructured as an amendment to the current leasing agreement, whichwill allow Sprint to retain the benefits of off-balance sheetfunding and avoid the cost of short-term constructionfinancing.
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