MINNEAPOLIS, MN- GN Resound, a subsidiary of Great Nordic,has just resigned its lease on their 122,177 SF headquarters facility in Bloomington, Minnesota, near the region's international airport. The hearing-aid technology provider, which has offices in about 25 countries and roughly 3,000 employees, is the building's sole tenant. The building was built in 1960 and has offices, storage, and training facilities. BentleyForbes, an investment firm based in Los Angeles is the owner.
The parties were represented by a team of cooperating brokers including: Keith Cade of Newmark Grubb Knight Frank; Harold Ulvestad from Rockland Advisors; and Mark Sims from Cassidy Turley.
Activity in the submarket remains a bit slow. Colliers International stated in its year-end report that “vacancy overall is still high at 17.4 percent with Class B properties posting a vacancy of 18.2 percent. The many options available to tenants will make it a strong tenant's market, and landlords will need to offer competitive leasing packages as they compete for tenants.”
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