New Lease, Expansive Renovations Plans, and Rebranding of Key Center - PRESS RELEASE

Wednesday, February 1, 2017

KEY CENTER
Millennia Companies Announces a New Lease, Plans for Expansive Renovations and Rebranding of Key Center

Key Tower and its ownership, The Millennia Companies, are pleased to announce a lease with Forest City Realty Trust, Inc. Forest City was represented by Chandler Converse of CBRE, Inc. Millennia was represented by its building management and leasing firm, Jacobs Real Estate Services, LLC.

Forest City is planning on moving its headquarters into Key Tower by early spring of 2018. They will be occupying 147,795 square feet of space. Key Tower and The Millennia Companies are thrilled to have such a great company join the tower’s prestigious list of tenants.

According to Frank T. Sinito, principal and Chief Executive Officer of The Millennia Companies, “Forest City and The Millennia Companies share the same vision for what Key Center will become.” The Millennia Companies will also be moving their headquarters to Key Tower and plan on taking approximately 40,000 square feet on two floors. Millennia has plans to rebrand, reenergize and modernize Key Center. “I believe that Millennia employees and the employees of Forest City and the other tenants of the building want a work place that is modern and exciting as well as comfortable and welcoming. Our respective companies work hard to recruit and retain the best of the best employees and our planned improvements and amenities for Key Center will provide a competitive advantage towards that end.” said Sinito.

Key Center was designed by renowned architect Cesar Pelli and is the 25th‐tallest building in the US. The historic bank building was designed by renowned US architects Burnham & Root, and the greenspace east of the tower (“Mall A”) is part of the 1903 Group Plan, also by Burnham & Root, upon which stands the fountain/statue “Fountain of Eternal Life.” This makes Key Center one of the most significant architectural locations in the City of Cleveland, if not the entire State of Ohio and Midwest United States.

Building on that history of excellence, The Millennia Companies intend to significantly improve the lobby interior. Proposed isto re‐invigorate the lobby with new seating areas, artwork created by local artists, new lighting, and introducing Marble Room Sushi (operated by the same team as The Marble Room Steak and Raw Bar restaurant, soon to open on Euclid Avenue near East 6th Street). The concierge services will also be rebranded and provide a higher level of service than in recent years. “We want to create a new, more interactive experience in the lobby for our clients. One where you can have an informal meeting with your team or relax, enjoy fresh sushi and delight in artwork from local artists.” said Sinito. The plans also include improvements to the east exterior plaza. Additional landscaping as well as seating options will be professionally designed for this space allowing for enjoyment of this magnificent outside gathering area.

The fitness center (on the 3rd floor of the hotel building, formally a part of Key Club) will receive a comprehensive renovation and will become a premier fitness and wellness center. Individuals can join this fitness center through memberships. The goal is to have the fitness center back online and taking memberships in the fall of 2017.

The former Key Club banquet facility is to be rebranded and renovated into a high‐end social event venue renamed the St. Clair Ballroom which will be owned and operated by Malisse and Frank Sinito. You will no longer need to be a member to utilize and enjoy this space. With gorgeous views of Memorial Plaza and Lake Erie, this revitalized and prestigious event venue will be the place to hold your wedding reception, gala or business meeting. The grand reopening of this space is slated for late 2017.

Both the fitness center and the social event venue will have a new grand entry significantly enhanced to serve these venues.

Millennia also is planning substantial improvements to the Cleveland Marriott Downtown at Key Center. The design concepts include transforming the hotel lobby to open up views to the new Global Center for Health Innovation and Huntington Convention Center of Cleveland. The banquet and meeting space in the hotel will also see a major transformation. The current hotel restaurant is being redeveloped as an upscale dining destination. It will cater to hotel guests, clients of the tower as well as to the downtown workforce and residents. Millennia envisions a full‐service, destination for both work and play, in the heart of downtown that builds on the momentum of Public Square, the Convention Center, and new housing development, so that the most significant structure in the city serves Clevelanders and their guests in the best and most engaging way possible.