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PORTLAND-Insignia/ESG continues to resign tenants at SouthCenter, a 342,000-sf development owned by the pension fund clients of UBS Realty Investors. The latest deals aren’t the biggest, but they help Insignia maintain an occupancy rate of around 93% for UBS despite a market-wide average of more like 85%.

The most recent batch of deals includes two renewals and one addition. Teradyne Inc., a provider of testing and interconnection services for companies in the semiconductor and telecommunications industries, re-upped for 8,350 sf of office space at the 10-building development. As well, Mattei Insurance Services Inc. released 2,449 sf. The new tenant is Hi tech Engineering, which also leased 2,449 sf.

Insignia/ESG Managing Director Coby Holley tells GlobeSt.com that “more than anything,” his success in maintaining the park’s above average occupancy of late is due to tenants renewing their commitments. The term and rate of these latest deals isn’t being revealed by those involved, but two other recent deals at the park, one new and one renewal, have been at negotiated at annual full service rates in the mid to high teens per sf.

In July, Autodesk Inc. expanded its operations at SouthCenter in a five-year, $2.5-million lease deal for 26,277 sf, making it one of the largest tenants in the park. Autodesk, a maker of design software for architects, renewed its lease for 15,186 sf and rolled in another 11,041 sf of contiguous space that was vacated by Lifegoals.com, an online software company that was forced to break its lease and retrench. Other SouthCenter anchors include US Bank (40,000 sf), PGE (28,000 sf) and Pixelworks (24,000 sf).

In June, Nelson’s Nautilus inked a 10-year lease for 21,227 sf at SouthCenter that pushed occupancy at the development to over 90%. The $3-million lease commences this month, which means only four months of down time for the development’s ground-floor gym space, which was relinquished by Bally’s Total Fitness in April. Holley says the more favorable lease rate is due to the fact that the space had been a fitness club and didn’t need significant tenant improvements.

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