Nimbus Corporate Center is owned by Equity Office Properties. Nimbus Oaks is owned by Melvin Mark Cos. and Schnitzer Northwest. Local brokers tell GlobeSt.com that Unicru ended up at Nimbus Corporate Center after Nimbus Oaks couldn't provide enough contiguous space and the owner of Creekside Corporate Center (PS Business Parks) apparently made a refusable offer.
When EOP got the chance to place the company at Nimbus Corporate Center, they capitalized on it. Local brokers say EOP let Credence Systems buy out the remaining months of its lease at 9525 and 9595 S.W. Gemini Dr. at a discount and used the proceeds to entice Unicru into the 20-year-old one-story flex building with several months of free rent, a moving allowance and above-standard tenant improvements. EOP isn't making much money on the deal in the short term, they say, but it keeps the buildings leased with the hope that Unicru will decide to stay in the park for the long term.
EOP's leasing agents for the property Jeff Falconer and Mike Nye of Trammell Crow would not confirm the information in the previous two paragraphs and would not reveal the negotiated lease rate, but Nye did say EOP's Nancy Ward did "a great job of meeting the market and providing the extra incentives necessary to seal a deal in a tough leasing market."
As part of the lease agreement, Unicru must take down the 10,694 sf that remains to be leased in one of the two buildings within 24 months of lease commencement. The triple-net asking rate for the space Unicru leased was $1.05 per sf per month. Unicru was represented in the transaction by Colliers International brokers Mike Holzgang, Gordon King and Brad Christensen.
Nimbus Corporate Park is a 696,000-sf business park with 137,000 sf currently being marketed for lease. As much as another 120,000 sf at the park may also be headed to market as a result of the bankruptcy of First Consumers National Bank.
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