Bull HN Information Systems Inc. plans to exit 20,000 sf, now used as a data center, and move the crew next door to 13430 N. Black Canyon Hwy., a 140,000-sf, class B office building. The data center team will fill about 24,000 sf and the headquarters staff will shift into 47,000 sf, downsizing by 89,000 sf when the dust settles, says Ashley Brooks, a senior vice president in Phoenix for CB Richard Ellis Inc.

"They had not been using the space efficiently for some time and had a portion of their space on the market for sublease for the past 12 months," Brooks tells GlobeSt.com. He says the longtime owner encouraged Bull HN Information Systems to commit to an early renewal.

"Bull has an excellent relationship with Lexington and they were able to come to mutually beneficial terms," Brooks says. The new lease, valued at $4.3 million, gets remodeled space and lead tenant status for the tech firm. The class B space's quoted rate is $12 per sf triple net rate. Brooks, Chuck Nixon and James Bayless negotiated the new deal on the tenant's behalf while Lexington Corporate Properties of New York City used an in-house broker to bargain the terms.