NORTH OLMSTED, OH-Advanstar Communications Inc., headquartered in New York City, is leasing 32,101 sf at the Great Northern Corporate Center Two, 24950 Country Club Blvd. here. The 10-year lease starts Nov. 1, says Brian Owendoff, vice president of the Cleveland office group of Duke Realty Corp., which owns the building.

Owendoff represented Duke in the lease transaction. Advanstar was represented by Rico Pietro, with Cleveland-based Cresco Real Estate. The lease transaction is one of the largest leases in the Cleveland suburban office market this year, Owendoff says.

Advanstar is relocating its Midwest office from a 60,000-sf building, constructed in the late 1970s, at 7500 Old Oak Blvd. in Middleburg Heights, OH. Advanstar sold the building to Quadex, Owendoff says. Advanstar had acquired the building when it acquired another company and “they never fully utilized the building,” he says. The company decided to sell its current building and lease space elsewhere because “they were in a building that was larger than they needed and they wanted to get more efficient, more modern space,” Owendoff says. The media company chose the Great Northern Corporate Center because there was a full floor of space available and its “central location” near I-480, I-71 and the Hopkins International Airport. Additionally, there are numerous amenities in the area such as hotels, restaurants and retail, he says.

The building is part of the Great Northern Corporate Center Office Complex, which is three contiguous buildings with one lobby and a total of 270,000 sf, he says. The buildings were constructed in 1987, 1988 and 1999. Once Advanstar moves into the space, the complex will have a 95% occupancy rate. Other major tenants in the complex include AT&T, General Motors Acceptance Corp. and the world sales headquarters for Cargill. The asking lease rate for the complex is $22 per sf, gross, Owendoff says.

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