ROSWELL, GA-Software company Witness Systems has restructured and re-signed a five-year, 96,000-sf lease at Colonial Center 300 at Mansell Overlook. Michael Cohen, chairman of the executive committee of New York City-based GVA Williams, and Atlanta-based GVA Advantis executive director Dan Granot represented Witness Systems. The 163,252-sf Colonial Center 300 at Mansell Overlook is located on 112 acres and is owned by Birmingham, AL-based Colonial Properties Trust. It is fully occupied.

Cohen tells GlobeSt.com that the lease had about a year left on it when it was re-signed. Witness Systems had been looking at other locations within the market, but decided to remain in the same space, he says. “This was the culmination of a three-year process,” Cohen reports. “While the market offered several tempting alternatives, we concluded that renewing would best support Witness Systems’ objectives of flexibility and economy.”

Among reasons for remaining in the same space was the flexibility offered in the renewal. Witness Systems was sold to Israeli-based company Verint during lease negotiations.

“Since the company was being sold, we built in rights to expand or contract over the terms of the lease,” Cohen says. “Ultimately the decision to renew came down to the economics of the deal and the flexibility in the lease terms we received from the building owner.”

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