Richard Fletcher, the TCC senior vice president who mastermindedthe double acquisition and dual leases, wasn't available forcomment prior to publication time. The Republic Underwriters' dealhas been in the market for some time, but it took one deal fallingout with another buyer before TCC came up with a plan for theinsurance company to sell a 228,000-sf headquarters building at2727 Turtle Creek Blvd. and lease a 115,000-sf structure at 5525LBJ Freeway.

Sources tell GlobeSt.com that the Republic's 5.5-acre Uptownproperty has brought $70 per sf to $90 per sf, with the land valuedat far more than the class B office building, assessed at nearly$14.6 million. In fact, there's speculation the building will berazed and the site, abutting the Mansion on Turtle Creek, built outwith condos. "They might have a tenant, but I'll put money on itthat they will tear it down and redevelop it," the source says.

The relocation site, also a class B office building, sold formore than $4.2 million. It will undergo a $2.8-million renovationbefore Republic moves in spring 2005.