MINNETONKA, MN-OneBeach Insurance Group has inked a 45,092-square-foot lease renewal and expansion deal at KBS Real Estate Investment Trust II's 601 Tower at Carlson building here.
The specialty products insurer renewed and expanded its 23,764-square-foot lease by 21,329 square feet on floors five, six and seven of the 15-story building. OneBeacon Insurance Group has been a building tenant since 2006.
KBS of Newport Beach, CA acquired the 288,458-square-foot property in 2011.
Tom Wille of the CLW Real Estate Services Group in Tampa, FL represented OneBeacon in the transaction; Mike Marinovich of CBRE in Minneapolis negotiated the lease on behalf of KBS.
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