Jon Christensen, with CB Richard Ellis Inc. in Atlanta and previously an associate director for Studley, tells GlobeSt.com that the Raleigh, NC-based Misys inked a 10-year deal to get a consolidation site for 185,000 sf at 4801 E. Broadway Blvd. and 1121-1181 N. El Dorado Pl., both in Tucson. He says the developer plans to break ground in May on project that's roped off more than four acres in the Williams Centre master-planned, mixed-use development.
"The overall process took more than two years," Christensen says, adding Misys was committed to keeping its regional headquarters in Tucson, but had trouble finding existing space. "When it comes to the size requirement they had, a build-to-suit was the only option," he says. He declined to disclose the value of the lease, but says similar buildings lease for $22 per sf to $24 per sf.
According to Christensen, the healthcare technology firm wanted to maximize efficiencies and bring together the hospital systems division, which consists of 600 employees. The office building will include a state-of-the-art fitness center and cafeteria. The company plans to occupy the building in September 2006.
Christensen and Studley's Michael Broome represented Misys in the lease negotiations, partnering with Russell Hall and Tom Nieman, both with the Picor Commercial Real Estate in Phoenix, to secure the build-to-suit site. Christensen says it took more than 12 months to find the appropriate site. The developer's in-house team of Phil Skillings and Don Bourn negotiated the build-to-suit lease.
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