SEATTLE, WA-Equity Office Properties Trust held onto a major tenant in the last several days, signing longtime tenant Heller Ehrman White & McAuliffe LLP to a 91,000-sf, five-year renewal lease at Bank of America Tower that starts in early 2003 and quickly expands to 110,000 sf.

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.

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