HBS Systems Inc., with another headquarters office in Stratford,Ontario, took over the fifth floor of 275 W. Campbell Rd. in a dealbundled by Scott M. Jessen and Scott A. Morse, both with thelocally based Morse Co., and Mark Sommer, president and COO ofBeltway Commercial Real Estate, the building's new owner. Jessentells GlobeSt.com that the lease helped "solidify Beltway'sdecision to buy" the building because it boosted occupancy to about70%.

The 122,893-sf building traded in the last two months. Sourcessay it went for $45 per sf or $55 per sf less than it sold for sixyears ago.

Jessen says HBS Systems was looking for several years, exploringoptions that included buying or building. Office market conditions,though, now make leasing the more viable option, he says. Thebuilding's quoted rate is $15 per sf. "And we ended up with abetter deal than that," he says, adding that a heavy finish-out andexpansion space helped sway the decision to sign. "It was just sucha good deal. It was the most competitive deal you'll find in thearea, given the building and the finish-out."