Edina Realty signed a 10-year lease agreement to occupy the additional 25,000 sf of the building where it already has its headquarters. The terms were not disclosed. Edina Realty management and corporate staff; Edina Realty Title; their parent company, HomeServices.com; and portions of Edina Realty Mortgage, now occupy 52,000 sf of the building.
Edina Realty has occupied the 65th Street facility since 1979 and the lease was up in December 2000, says Arne Rovick, vice chairman of Edina Realty.
"Our customers will benefit from a convenient location; easy access to parking and the ability to access added services in one location," Rovick says.
The deal means the 442,775-sf building is now 95% occupied, according to Kevin O'Neill, vice president of Welsh Cos. O'Neill along with MikeGelfman, senior associate of Welsh, represented the building owner, New York-based Dahlia Properties, in the deal. Edina Realty represented itself.
Edina Realty, which had more than $6 billion in sales volume last year, is one of the nation's largest real estate companies with more than 75 real estate offices, throughout Minnesota, North Dakota and Wisconsin and more than 2,200 sales associates. Preparations for the move will begin in July with the 65th Street Office move scheduled to begin in December and be completed before the end of the year.
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