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PHOENIX-A software firm will pay $820,000 over the next eight years to sublease 6,400 sf at a midtown high-rise in a deal that also gave the company much of the equipment needed to operate its high-tech business.

Global Communications Technology took the office space in the 70%-leased high-rise at 2600 N. Central Ave. after Universal Access, a Chicago-based firm that provides multi-carrier end-to-end network infrastructure and high-capacity bandwidth provisioning services, closed its doors in Phoenix due to a corporate downsizing, Gordon Raguse, senior vice president with Grubb & Ellis/BRE Commercial tells GlobeSt.com. “They sublet it because they got a lot of the equipment with the sublease so it was a good economic deal,” said Raguse.

Global Communications, now located at 3220 S. Fair Lane in Tempe, will move into its new offices within the next few weeks. Raguse negotiated the sublease in behalf of both the new and former tenants.

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