X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MINNETONKA, MN-Liberty Property Trust has obtained four new leases and two renewals for an aggregate of 42,974 sf in buildings here and in Eden Prairie and Plymouth. The Plymouth Meeting, PA-based REIT owns and manages nearly four million sf of office, industrial and flex space in Minnesota, and a Liberty spokeswoman tells GlobeSt.com occupancy in the Minnesota portfolio is now 98%.

MultiSource Manufacturing LLC has inked a lease for 22,585 sf at the 50,287-foot flex building at 10300 Bren Rd. here. Meanwhile, Electrosonic Systems Inc. has renewed and expanded by 5,243 sf, bringing its total space to 27,702 feet. With these agreements, the building is 100% leased. Liberty’s Brad Butler negotiated on the owner’s behalf. The value of the transactions is undisclosed. According to the Liberty website, quoted rates for other flex properties owned by the REIT in Minnetonka range between $5 per sf and $10 per sf.

SML Retail Package Design Inc. has leased 9,500 sf at 10333 W. 70th St. in Liberty’s seven-building, 30-acre Shady Oak Business Center in Eden Prairie. Liberty’s published rental rates for the 23,547-sf flex building range from $4.50 per sf to $8.50 per sf. Liberty’s Josh Budish negotiated.

Carter’s Café Inc. renewed its 644-foot lease, and LRP Inc. signed a new deal for 2,593 feet in the five-story, class A, 167,172-sf office building at 10400 Viking Dr. at Southwest Crossing in Eden Prairie. Published rates range from $14 per sf to $15 per sf. Budish represented the owner.

Budish also negotiated a long-term lease for 2,409 sf with Retail Financial Services Inc. at 2800 Campus Dr. in Liberty’s Northwest Business Campus II, a three-building complex in Plymouth. Published rental rates for the 64,852-sf flex building are between $4.75 per sf and $9.50 per sf, and it is now 100% leased.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.