CLEVELAND, OHIO — KeyCorp has signed a 15-year lease extension for 487,000 square feet at Key Tower in Cleveland. The new lease begins July 1, 2015, and extends through June 2030. Columbia Property Trust has owned the 57-story Class-A office tower since December 2005. The 1.3 million-square-foot property has served as the headquarters of KeyCorp., the holding company for KeyBank, since the tower’s construction in 1991.
NEW YORK CITY — Risk Placement Services Inc., a national wholesale insurance brokerage, has signed a 4,366-square-foot lease at 100 Wall St., occupying a portion of the fifth floor for a seven-year term. Scott Cahaly and Mitchell Konsker of Jones Lang LaSalle represented the landlord, Savanna, in the transaction. Alex Jinishian of Colliers International represented the tenant.
HOUSTON — Fredricks Commercial, a Houston-based commercial real estate firm, has merged with Moody Rambin Interests, a Houston-based commercial real estate brokerage and management firm. Brent Fredricks, a 27-year veteran of shopping center and investment brokerage, has joined Moody Rambin as senior vice president.
SAN FRANCISCO – A 353,269-square-foot, Class A office building in San Francisco has received $81 million in financing. The building is located at 475 Sansome Street in the city’s North Financial District. It is 90 percent leased to tenants including Oracle, Amazon.com, Bank of the West and Yahoo! The 10-year, fixed-rate loan was arranged for Multi-Employer Property Trust (MEPT) by HFF’s Bruce Ganong, Cary Abod and Chris Gandy.It was provided by Prudential Mortgage Capital Company. Bentall Kennedy served as MEPT’s real estate advisor.
SAN JOSE, CALIF. – Ebay’s four-building, 250,000-square-foot office campus in San Jose has received a $50-million refinance. The campus is located within the Golden Triangle. The refinance will allow the borrower to secure a 10-year, fixed-rate mortgage at a competitive interest rate, as well as pay off its existing maturing debt. The loan request also featured a 1st Trust Deed and mezzanine financing components. It was placed by Alex Chenarides and John Souza of Barry Slatt Mortgage’s Los Angeles office. Financing was arranged through one of the company’s correspondent CMBS relationships. It will be serviced by Barry Slatt.
LAKE WORTH, FLA. — Wells Fargo has sold a three-property office portfolio, totaling 198,000 square feet, in Florida for $12.55 million. The properties include the 92,000-square-foot Wellington Commons in Lake Worth, the 60,427-square-foot Vista Park Commons in West Palm Beach and the 46,000-square-foot Stuart Commons in Stuart. Developed by Crexent Business Centers in 2007, the properties include state-of-the-art telecommunications, meeting/conference rooms, personal mail delivery and a private gym. Douglas Mandel of Marcus & Millichap represented the seller in the transaction. Mandel and Benjamin Silver, also of Marcus & Millichap, represented the buyer.
ARLINGTON, VA. — An affiliate of Lowe Enterprises has secured a $130 million renovation and bridge loan for two office buildings, 1400 Crystal Drive and Jefferson Plaza, in Arlington. The properties total 578,372 square feet. Wells Fargo and M&T Bank provided the financing, which will be used for the redevelopment of 1400 Crystal Drive into a trophy-quality office building. Funds will also be used for the renovation and leasing costs at Jefferson Plaza. Lowe Enterprises acquired the properties on behalf of an investment client in 2008. Cary Abod and Jordan Lex led the HFF team that arranged the loan.
ALPHARETTA, GA. — Cynergy Data, a payment services provider, has signed a 13,309-square-foot lease at 4800 N. Point Parkway in Alpharetta. The new deal brings the 75,000-square-foot property to 95 percent occupancy. Cynergy is relocating and expanding from another North Fulton location. Glenn Aspinwall of Jones Lang LaSalle represented the owner, Glenfield Capital, in the transaction.
CHICAGO — Global research firm Mintel has moved into its 30,000-square-foot North American headquarters on the 11th floor of 333 W. Wacker in Chicago. The office serves as a flexible workplace for employees and clients of the market research and intelligence firm. Griskelis Young Harrell designed the space and Leopardo Cos. constructed it. The office space includes open bench desks with 215 workstations, eight conference rooms and no private offices.
AUSTIN, TEXAS — Austin-based Endeavor Real Estate Group and Granite Properties plan to construct Champion Office Park, a 220,600-square-foot office campus in northwest Austin. The speculative office property will be located on the northwest corner of RM 2222 and Loop 360. The campus will include two four-story office buildings. San Antonio-based Overland Partners designed Champion Office Park, which is slated to open in September 2014. Travis Dunaway and Jonathan Tate of Endeavor will handle the property's leasing.