The building, to be developed and managed by Western &Southern's subsidiary Eagle Realty Group, will feature a largetiara-like cap, in reference to the Queen name. The tower will bebuilt at Fourth and Sycamore, next to the company's current firstphase, the 200,000-sf 303 building. Mario San Marco, president ofEagle, says the demand for new office space has been incredible."There had not been a new office building in Cincinnati until the303 was completed in 2006. Now, that building is more than 94%occupied, and soon to be 97% occupied. I think that demonstratesthere are quality tenants that are growing here and want newspace," San Marco tells GlobeSt.com.

American Financial now operates out of five buildings in theDowntown. This move will allow the company to consolidate three ofthe offices, its insurance divisions, into one location. "It willalso allow us room for future growth and expansion," said AmericanCEO Craig Linder in a statement. The company has about 6,500employees nationwide, with about 40% in Downtown Cincinnati.

The new building will also have 25,000 sf of retail space, SanMarco says. Construction will begin in mid-2008, and should becomplete by 2011. He says marketing work is now starting to fillthe rest of the structure. "We wanted to get that first leasebehind us," San Marco says. He would not detail the lease rates,but average class A rents are $22.97 per sf, according to athird-quarter report by Grubb & Ellis.