EDEN PRAIRIE, MN-Josh Budish with Liberty Property Trust saysthat the firm was recently able to lease out a 23,183-square-footflex building in Shady Oak Business Center one week after it hadbeen vacated. Savillex Corp. recently signed a long-term lease forthe flex building.


Budish tells GlobeSt.com that Williams Sound Corp. left the Bbuilding, at 10321 West 70th St. for another facilitywithin the business center. The Savillex deal was signed shortlyafter the move, he says. “It was a unique deal in the market, wheremany landlords are sitting on vacant space for 12 to 24 months. Itwas just the right building and right location, the new tenant wasable to use some of the existing infrastructure that the formertenant was leaving behind,” Budish says. He says the general markethas still been slow, with only a slight uptick in demand from2009.


Liberty was able to get “a little creative” on saving money forthe new tenant, Budish says. He wouldn’t comment on the lease rate,but says the complex asking rate is $10 per square foot for officeand $5 per square foot for warehouse. This building incorporatessome of both, he says.


Liberty owns six buildings on the campus, and is about 99%leased in 230,000 square feet. The Malvern, PA-based firm owns andmanages nearly 3.7 million square feet of office, flex andindustrial property in Minnesota, including more than 45 majorparks and buildings.

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