Horizon Blue Cross Blue Shield (HBCBS) Extends Lease for 15-Years
15 Year Lease – 87,460 SF Office Building
HBCBS leased the entire building and had a pending lease expiration. The landlord was highly over leveraged and would lose the building if HBCBS vacated at lease termination. A new 15 lease was structured taking advantage of landlord’s situation with a rental rate below market, a generous concession package as well as base building improvements. Additionally an early termination option allowed future flexibility.