Jim Montez, a senior brokerage associate with United Properties, tells GlobeSt.com that early renewals are a recurring theme in the Downtown market. On the landlord side, the motivation to lock in large tenants is being driven in part by rumblings of possible new construction. "Landlords want to keep their tenants away from being an anchor in a new development," Montez explains, adding that tenants' varied reasons include economic factors and changing space needs.

Eight new leases, negotiated by United Properties in recent months, include 7,051 sf for Modis and 6,962 sf for Harris Williams & Co. Franklin Capital Corp., Skjold-Barthel, P.A., Hubler Family Business Consultants and Davis Real Estate Services Group, LLC have also been added as tenants. Montez says the recent activity brings the building's vacancy rate to about 22%. Most, about 26% of that vacancy, is in the building's low-rise space. The vacancy rate above the 22nd floor is 5%.

A $3-million renovation of the tower at 222 S. Ninth St. is scheduled for completion by the end of the year. The upgrades include exterior and facade renovations as well as interior improvements, such as modifying existing retail spaces to open sight lines, updating common areas and lobby, and creating a unified aesthetic including artwork and signage from the skyway entrance to the top floors.