The seven-year deal puts nearly $2 million in the pockets of building owner, locally based Zenith Financial Group Ltd., says Rick Bailey, an associate with Grubb & Ellis Co., who represented Association along with Keith Lloyd. Zenith was represented by L. Ace Schlameus and Aaron Schlameus, also of Grubb & Ellis.
Bailey tells GlobeSt.com that the insurer, whose existing lease expires in March, wanted to buy a building for its headquarters, but could never find the right deal. "They wanted to be in Westchase to be near their employees and wanted to reconfigure their space."
"The new building allows Association Healthcare to upgrade their image," adds Ace Schlameus. The 24-year-old building underwent significant renovations in 2004 including an upgraded lobby and common areas. The building leases for $15.50 per sf.
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