Restoration Fellowship Center leased 4,950 square feet for three years starting in August 2002. The value of this lease is $203,000, or an average of $13.67 per sf.

Ultrasound Technical Services, an existing tenant, expanded by 4,027 sf to more than 17,500 sf for three years. The extra space is valued at $146,000, or $12.09 per sf.

Riverwood Enterprises Inc. renewed its lease early for its 12,100-sf space. The additional five-year term begins in January 2004. This $674,000 lease translates to $11.14 per sf.

These deals bring the 162,106-sf Phase I to 98%-occupied. That's a 10% jump since the second quarter.

"This brings us above the occupancy level that we were expecting with the surrounding market," Korn tells GlobeSt.com. "The surrounding market is keeping occupancy in the low 80s.

"Much of the success of the property is due to aggressive rental rates and marketing," she says. She adds that the park's rates generally are lower than competitors in the area.

The 135,000-sf second phase of Headway Office Park, which has a different owner, is 80%-occupied, she says. Phase I, located at 4700 to 4850 N. State Road 7, has three small leasable spaces left: 1,492 sf, 1,346 sf and 714 sf.