"There were several properties in the immediate area that would have qualified as suitable space; however Unicorn Park offered the best features and economics," says Roger Williams, senior associate with UGL Equis. "Additionally, by entering into a renewal agreement, Way Systems was able to also avoid the costs associated with relocating."
The landlord offered a "market aggressive transaction," UGL Equis VP James Halepis tells GlobeSt.com. The landlord felt Way Systems had a "great tenant with motivation to retain them" and offered the company more competitive concessions to keep the long-standing tenants.
According to Halepis, Way Systems is staying on for a five-year lease with a price per square foot starting in the high-teens. In addition, he says, the company was given some free rent.
The park is comprised of six-buildings and a Marriott Courtyard hotel. The class A, 200 Unicorn Park tops off at 4-stories with 130,577 square feet of office.
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