"This was a creative deal with a couple of big incentives suchas only paying rent on a portion of the building for the first yearand free workstations," says Steve Kohls of Lee & Associateswho represented Wageworks. Jerry Roberts of CB Richard Ellis Inc.represented the building owner, the Carlyle Group, which has sincesold the 123,500 sf building to Lafayette, CA-based BedfordProperty Investors Inc.
Kohls tells GlobeSt.com that the Carlyle Group agreed forWageworks to pay for only 7,500 sf for the first year to allow thecompany to grow into the remaining space. Moreover, the CarlyleGroup offered 70 workstations to Wageworks in a plug 'n' play dealwith fixtures previously owned by NextCard, the prior occupant. Theother chief selling point is the proximity to Loop 202 andInterstate 10 and its 5:1,000 parking ratio, Kohls.
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