Moissanite gemstone maker Charles & Colvard has extended its lease in Morrisville's Perimeter Park for an additional five and a half years.
The company leases 16,500 square feet in EastRidge, a business park with 477,000 square feet of office and flex space.
The lease extension was outlined in a filing with the Securities and Exchange Commission.
Charles & Colvard got a reduced rental rate and a 50 percent rent abatement for the first 12 months of the extension.
The rental rate will increase 3 percent annually, and the company will have an option to terminate the lease in 2014.
Charles & Colvard's lease was originally set to expire in July.
It remains a great time for stable companies to have their lease come up, as landlords are being very aggressive in trying to keep those that they already have.
"We did leverage the market a little bit," said Timothy Krist, the company's chief financial officer.