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PLANO, TX-The lead tenant is staying in place at Harrington Place after crafting a lease extension on 23,720 sf in an 86,718-sf building right on the fringes of the Telecom Corridor.

FutureWei Technologies Inc., a subsidiary of China’s Huawei Technology Corp., tweaked two leases a year before they came due by adding three years to take the expiration to 2007, Deborah Borum, vice president of leasing for Dallas-based Harwood International Inc., tells GlobeSt.com. FutureWei moved into the class B building at 1700 Alma Dr. in Plano in April 2001, starting out with 15,452 sf for its first Dallas office. Last August, the firm rolled in another 8,259 sf. Now, it’s reworked the pacts to push out the expiration from next year to 2007 while capturing cost-saving advantages to being a tenant in today’s marketplace.

The Richardson/Plano submarket has one of the highest vacancies in Dallas-Fort Worth, buildings darkened by the tech wreck but now being lighted by savvy deal making, with help from the municipalities in many cases as “diversification” becomes the buzzword to bring the deals home. The deal pitted Plano against Richardson despite the shared interest in the Telecom Corridor as municipal incentives were rumored to be available for snagging the close. The talks, Borum confirms, definitely were aggressive.

Harrington Place, minutes from the heart of the Telecom Corridor and neighboring a mall, stays 82% occupied with the signing. John Schaunfield of Dallas-based Mohr Partners represented FutureWei Technologies.

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