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PORTLAND-AT&T Wireless has renewed and expanded its lease at AT&T Center, a 125,000-sf office building in Downtown Portland. The firm is growing by 9,000 sf from its previous lease and is now leasing 74,234 sf in the building at 1600 SW 4th Ave.

The term of the lease is five years. Those involved in the deal wouldn’t discuss the lease rate, but other familiar with the deal say AT&T renewed at between $22- and $23 per sf, making the five-year deal worth more than $8.3 million, not including owner concessions, which weren’t immediately known but recently have included a month or two of free rent and a tenant improvement allowance.

Washington Capital Management manages the asset on behalf of its clients, which include union and corporate pension funds and high-net-worth individuals. AT&T Center is currently 99% leased.

Locally, Washington Capital clients own the Sun Microsystems Assembly Facility in the Sunset Corridor and are a joint venture partner with Greg Specht on a building leased to Nike in Beaverton Creek III. Last week, the firm announced the closing of its pre-arranged acquisition of the new 138, 432-sf InFocus headquarters building in Wilsonville, Ore. for $21 million.

AT&T Wireless was created in 1994 as the result of AT&T Corp.’s purchase of McCaw Cellular Communications. AT&T Wireless began trading on the New York Stock Exchange in April 2000.

David Squire of Grubb & Ellis Co. represented Washington Capital in the transaction. Jones Lang LaSalle represented AT&T.

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