The value and length of the contract for the two-building property wasn't disclosed. But area brokers tell GlobeSt.com PM is expected to have a formidable job in leasing up the complex as office vacancies near the 25% mark in some area submarkets and rents continue to tumble. The 18-year-old Perimeter Center is at 67% occupancy.

Steve Dils, a senior vice president and director of Houston-based PM's local division, tells GlobeSt.com, "the contract at Perimeter 400 was based on relationships." He adds, "In the current market environment, owners are focused on achieving occupancy at their buildings, and they want to hire firms with strong leasing capabilities."

Dils will work with senior property manager Lynn York, vice president Bill Langley and assistant vice president Mary Ellen Bochstahler in leasing and managing Perimeter 400 Center.