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Columbia Property Trust Continues Strong Leasing Momentum with Extension of Thompson Hine at Key Tower to 2029

December 22, 2015 12:00 AM

ATLANTA--(BUSINESS WIRE)-- Columbia Property Trust (NYSE: CXP) has completed a 12-year lease renewal with Thompson Hine LLP for 125,120 square feet at Key Tower in Cleveland, Ohio. The new lease retains the 100-year-old Cleveland-based national law firm, which has maintained its offices at the 57-story Key Tower for the last 20 years, in six floors and extends their expiration date from 2017 to 2029. This transaction is the second renewal of a 2017 expiration completed by Columbia in the last two months following the late October renewal of a 370,485-square-foot lease with CH2M in suburban Denver to 2032.

“We are pleased that Thompson Hine is continuing its commitment to Key Tower, furthering the property’s reputation as the pre-eminent business address in Cleveland,” said Nelson Mills, president and CEO of Columbia Property Trust. “We now have a vast majority of the office tower under long-term leases.”

“Thompson Hine has thrived in Key Tower for 20 years,” said Robyn Minter Smyers, Thompson Hine’s Cleveland office managing partner. “We are looking forward to improving the efficiency of our utilization of space in ways that lead to flexible and easy collaboration with clients, lawyers and staff. Our firm prides itself on innovation, efficiency, value and client service, and our new space will reflect these principles.”

Columbia Property Trust has owned the iconic, Class-A office tower and attached 10-story historic building since December 2005. The 1.3-million-square-foot property also serves as the namesake headquarters of KeyCorp., the holding company for KeyBank, which in 2013 signed a 15-year lease extension for 37 percent of the property.

About Columbia Property Trust

Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings in competitive, primarily CBD locations, and over half our investments are in high-barrier-to-entry, primary markets. As of December 10, 2015, our $5+ billion portfolio included 27 office properties containing 13.7 million square feet and one hotel, concentrated in San Francisco, New York, and Washington, D.C. For more information about Columbia, which carries an investment-grade rating from both Moody’s and Standard & Poor’s, please visit

Forward-Looking Statements:

Certain statements contained in this press release other than historical facts may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such statements include, in particular, statements about our plans, strategies, and prospects and are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We make no representations or warranties (express or implied) about the accuracy of any such forward-looking statements contained in this press release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Any such forward-looking statements are subject to risks, uncertainties, and other factors and are based on a number of assumptions involving judgments with respect to, among other things, future economic, competitive, and market conditions, all of which are difficult or impossible to predict accurately. To the extent that our assumptions differ from actual conditions, our ability to accurately anticipate results expressed in such forward-looking statements, including our ability to generate positive cash flow from operations, make distributions to stockholders, and maintain the value of our real estate properties, may be significantly hindered. See Item 1A in the Company's most recently filed Annual Report on Form 10-K for the year ended December 31, 2014, for a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements. The risk factors described in our Annual Report are not the only ones we face, but do represent those risks and uncertainties that we believe are material to us. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also harm our business.

Columbia Property Trust
Tripp Sullivan, 615-760-1104
Jim Fleming, 404-465-2200

Source: Columbia Property Trust

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