Commercial real estate brokers categorize Northstar as a class-B office building, a category that could face a challenging year as a number of similar properties are marketing space at the same time. A number of large new office projects have opened or are under construction in Downtown Minneapolis, and vacancy rates are startingto rise there.
The Colliers Towle leasing team, which includes Larry Chevalier, vice president; Jeff Hart, senior sales and leasing associate; and Tina Feisthamel, sales and leasing associate, will work with Deb Goodman, TrizecHahn property manager for Northstar Center.
Chevalier says his team will take a "creative, exciting" marketing approach to lease up the 75,000 sf of office and retail/service space available now and the 300,000 sf that will be vacated by American Express Financial Advisors this summer. There are ongoing renovations of the food court and common areas, Hart says.
The building benefit from nearby amenities, given its prime location in the heart of the Minneapolis' Central Business District.
Chicago-based TrizecHahn, one of the largest public real estate companies in North America, also owns the 280,000-sf Minnesota Center in Bloomington, MN as well as aninterest in 76 US office properties totaling 49 million sf concentrated in the Central Business Districts of seven major cities. That includes Sears Tower, the tallest building in North America.
Colliers Towle is a commercial real estate firm based in Minneapolis.
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