JPMorgan Chase's renewal and expansion closes off five fullfloors in the asset's north tower at 600 N. Pearl St. "This issignificant. They are making a long-term commitment to the Downtownwith their space here and at Chase Tower next door," JoelPustmueller, partner in Peloton Real Estate Partners of Dallas,tells GlobeSt.com. The financial giant's new deal spans floorsseven and eight and 13, 14 and 15, with keys poised to turn to thenew space in October.

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JPMorgan Chase, in some form of a banking flag, has occupiedspace in the 1.18-million-sf asset since the day it opened in 1980.Pustmueller says the new deal was at the bargaining table nearlysix months, ending with terms that include a full five-floorrenovation. Matt Craft and Jon McNeil with Jones Lang LaSalle'sDallas team represented the tenant, which as local brokers know isshuffling space at several CBD locations, including Bank One Centerat 1717 Main St., where prepping is underway to make way for thearrival of Comerica's HQ from Detroit although it's not beenofficially announced by corporate chiefs as yet. In addition,JPMorgan Chase's lease at KPMG Centre at 1717 N. Harwood St. isnearing its end, according to Pustmueller.

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"Chase had several options to consolidate Downtown," saysPustmueller, who partnered with Peloton marketing associate CarlaMachulis to negotiate the win. "It was a very competitive deal forsure."

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In another renewal, Capmark Financial held tight to 13,541 sf onfloor 12 of the 25-story north tower. Pustmueller says thefive-year leaseholder, renewing about 18 months early, signed aseven-year pact this time. Capmark's tenant reps were RebeccaGriffin, managing principal for Newmark Knight & Frank inDallas, and associate director Wilson Stafford.

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Arriving in November will be Memphis-based Sedgwick ClaimsManagement Services, which took 17,302 sf in the 25-story southtower at 700 N. Pearl S. Pustmueller says the firm, moving fromLincoln Plaza at 500 N. Akard St., has leased nearly all of thetwelfth floor, getting expansion rights to the balance, in along-term pact. J. Patrick Gamble, a vice president in CB RichardEllis' Memphis office, represented the tenant in a three-monthround of bargaining before the deal was bed down.

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The triple play has pushed Plaza of the Americas' office spaceto 75% occupancy. "We have three to four other deals working rightnow," Pustmueller says. The quoted office rate is $18 per sf pluselectric.

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The New York City-based Blackstone Group inherited 50%interest in the mixed-use Plaza of the Americas in lastyear's buyout of Trizec Properties Inc. And, it's the only one thatit hasn't sold to date.

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