Studley's executive managing director Adam Singer, of thecompany's suburban Washington, DC office, senior managing directorLaurent Myers, also of the Washington, DC office, and managingdirector Alisa Waerlop, of the Fort Lauderdale office, representedURS in the transaction. The building landlord, Prudential, wasrepresented by CLW Real Estate Services Group, which manages andleases the building.

Waterford Plaza is a 242,495-sf, 12-story class A suburbanoffice building located at 7650 West Courtney Campbell Causeway.URS, an engineering design firm, is the building's largest tenant.Other tenants include AON Corp. and HomeBanc Mortgage Co.

According to Studley's office market report, the overallavailability in the Westshore submarket where Waterford Plaza islocated decreased from 16.9% in the first quarter of 2005 to 10.8%in the first quarter 2006. Waerlop could not be reached bydeadline, but in a released statement said, "When we initiated thistransaction, Westshore's high vacancy rate as well as those ofsurrounding submarkets offered a wide array of buildings for URS toconsider, but rapidly shifting market conditions quickly reducedthe acceptable alternatives, resulting in a renewal transaction orbuild-to-suit solution. The Studley/CLW team worked cohesively togive URS and Prudential a final transaction that was not onlycompetitive but also made economic sense for both companies."