EOP senior vice president Pat Callahan would not reveal the financial terms of the deal. "With more vacancies in the current market, tenants can take advantage of long term planning, and that was really the key component in retaining (Heller)," Callahan told GlobeSt.com. "They wanted a fair-market deal that could take care of their future growth—and that's what we gave them."
Based on other recent deals, however, it's safe to assume EOP threw in a new-tenant-like tenant-improvement allowance, likely between $30 and $50 per sf. As to lease rate, a tenant of Heller Ehrman's size and tenure likely would get a substantial discount on the average annual full-service asking rate in town, which Callahan says is currently running in the high $30s per sf.
Heller has been a tenant in the tower since it initially opened its doors here in 1988 with 41,000 sf. At present, the firm occupies floors 57 and 59 through 62. As a condition of its continued occupancy, the firm requested it be given floor 58 to provide for completely contiguous space beginning next January.
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