Public Square accounts for 35% of the Downtown office market,according to CB Richard Ellis' Cleveland Downtown Office MarketReview for First Quarter 2006. This renewal is reported to be thelargest office transaction completed downtown so far this year,according to firm Studley, which represented the tenant in thetransaction.

"This deal extends a relationship that began in 1930 when thefirm was founded by several local attorneys," explains Joe Lerner,Studley EVP, who along with fellow EVP Andrew Lechter, negotiatedthe deal. "Though Benesch, Friedlander had four more years untilits lease expires, Cleveland's soft office market coupled with achange in ownership at BP Tower led us to act quickly," Lernertells GlobeSt.com. "We began discussions when Equity Office stillowned the building."

According to Lerner, this tenant's position as the largest userwithin the building motivated Harbor Group to retain the law firmby offering a competitive lease restructure package. "It's reallyimportant to make it work for both parties."