WorldTravel Renews at Cleveland's Park Plaza

PHILADELPHIA-Atlanta-based WorldTravel Partners renews its lease for 9,757 sf in Park Plaza, the 130,000-sf, class-A office building at 1111 Chester Ave. in Downtown Cleveland. Terms of the lease were not disclosed, but brokers familiar with comparable properties in the area tell GlobeSt.com the asking rental rates range between $22.20 per sf and $24.55 per sf.

The building is 97.5% leased, according to Courtney McElwain, who represented Cleveland-based Ohio Sales Management, which manages the building. Lead tenant at Park Plaza is Ohio Savings Bank, also based in Cleveland, and an affiliate of the management company.

Dave Berry and Mike Sessa, principals with the Chicago corporate services office of Addison, TX-based Staubach Co., and Patrick Reardon of Staubach’s Cleveland office, represented WorldTravel in the lease negotiations.

WorldTravel is among the three largest travel companies in the US and it specializes in custom, technology-based solutions for corporate travel programs.