Butwhen the new building opened last month, the companydecidedto move into the new building and open up theolder one, says MikeOhmes, an office specialist withUnited Properties."They figuredthey would have more takers at $12 netpsf than at $18 netpsf,"Ohmes explains.

Minnesota Life has left open for leasing the 25,000 sftop floorof the new building, Ohmes says. The idea isto attract ahigh-profile tenant who would like themarquee location.Up-to-datetechnology and large floor plates convincedMinnesota Life thattheir new building would be abetter location than the old, Ohmessays.

Fast-growing Minnesota Life will eventually need totake backspace in its old building.In mid-October, Minnesota Life opened upthe first twofloors, or the ground and skyway levels, whicharemostly occupied by small retailers including a bank,coffee shop,a convenience store and a stock brokerageoffice.Welsh Cos. is theleasing agent for Minnesota Life inboth of its buildings.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.