Advantis senior directors Bo Bradford and Tom McFadden, along with associate Mindy Pierce, negotiated for the building's owner, Dr. Phillips Inc. David Murphy of CB Richard Ellis Inc.'s local office represented PCA.

"Our client (the owner) will not allow us to disclose either the length of the lease or its value," Bradford tells GlobeSt.com. But area brokers familiar with the Northwest submarket tell GlobeSt.com the space at the 37-year-old property was leased for about $1.50 per sf. That rent compares with an average asking $3.75 per sf on a triple-net basis at most of the other properties in this submarket. At the Bryn Mawr property, the average asking base rent is $3.25 per sf triple-net.

The deal took eight months to negotiate because PCA "evaluated other buildings and potential build-to-suits," says Bradford. "But ultimately, the tenant concluded that our deal made more economic sense than a relocate to another building or state."