BLOOMINGTON, MN-The financial services organization TIAA-CREF has signed three tenants to its 1.7-million-square-foot Normandale Lake Office Park. The 81,500 square feet in the five-building complex has boosted the overall occupancy in the building to 85%.
Emerson Process Management has leased 30,000 square feet in the 8000 Tower as its corporate headquarters. Activion Blizzard Inc. executed a new lease for 27,500 square feet in 8200 Tower. The largest lease was by anchor Prime Therapeutics, which expanded its corporate headquarters in the 8400 Tower by 24,000 square feet, bringing the firm’s total footprint to 180,000 square feet. Other tenants at the park include Merrill Lynch, Oracle and Morgan Stanley.
Tom Tracy with Cushman & Wakefield/Northmarq tells GlobeSt.com that the Normandale complex is doing better than the overall southwest Minneapolis office market, which is about 18% vacant. “This area is coming back a little bit, it has been soft the past few years,” he says. “We’ve done more than 140,000 square feet of leasing this year at Normandale.”
Kurt Knoff and Tom DeSautel with CBRE represented Emerson. Karen Riley and Mike Tobins with CresaPartners represented Activision. Ray Reese and Dennis McClinton with CBRE represented Prime Therapeutics.
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