Hysan Development Co is close to agreement on leasing about 10 office floors of The Lee Gardens development in Causeway Bay to international insurance company Manulife, market sources say. Sandra Lee, senior marketing and promotions manager with Hysan, said 6.5 floors of the 38 office floors in the project in Hysan Avenue had been leased. She said about 40 per cent of the 580,000 square feet of office space, or about 16 floors, would be leased if active offers signed up. Office rents in the 50-storey tower, which has a gross floor area of about 900,000 sq ft, have been set at about $40 per sq ft a month on the lettable area, according to agents. Mercedes car dealership Zung Fu will lease the eighth and ninth floors and a ground floor showroom for a total of about 40,000 sq ft, according to Hysan officials. An unnamed advertising agency would also take two floors, Ms Lee said. Hysan was slated to take a couple of the upper floors, she said. A spokesman for one of the project's leasing agents, Jones Lang Wootton (JLW), said more than 70 per cent of the retail portion of the development had been leased out. Retail rents vary from $100 to $200 or more per sq ft a month. The retail section of the development covers seven levels from the basement to the fifth floor. Two restaurants and one coffee shop have leased more than 12,000 sq ft, a JLW spokesman said.