Alliant, an aerospace and defense company, reportedly moved itsheadquarters to the new building for a 15-year lease. Guy Arnold,president of DCT, said in a statement that the term ensures astable cash-flow stream, with very attractive pricing. "(This)submarket is one of the top performing and most desirablesubmarkets inn Minneapolis," Arnold said in the statement about thedeal. The lease rate paid by Alliant was not provided. Averageclass A rates for the area are at $27.36 per sf, according to aGrubb & Ellis third quarter market report.


In an SEC filing, the trust said it is buying the 7-acreproperty using proceeds from public and private offerings. TheDenver REIT owns 74 properties totaling about 12 million sf.


The building was designed as a spec project, but was developedas a build-to-suit for Alliant, according to the TOLD Web site. Thethree-story office has amenities such as a café, fitness center,conference center, environmental features and a 120-stall parkingdeck. Officials with TOLD and DCT refused to comment for thisstory. Tom O'Brien and Terry Kingston, both with Cushman &Wakefield, reportedly represented TOLD in the transaction.

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