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Medica Takes 213,000 SF at Carlson Center

MINNETONKA, MN-The health insurance provider negotiates a complicated transaction that will result in an April 2004 occupancy. Several firms, including facility owner Carlson Real Estate Co., were forced to either downsize or relocate to accommodate the new tenant.

By Glen Thompson | Updated on February 14, 2003

MINNETONKA, MN-In a complex transaction that required the relocation of sitting tenants to a neighboring complex, health insurance firm Medica will move its headquarters to a 213,000-sf space at Carlson Business Center here. The firm plans to occupy the space beginning in April 2004, if not sooner.

Facilitating the transaction required relocation of existing tenants at the 401 Carlson building, including Michael Foods Inc., which occupies 44,000 sf. The company will move to 301 Carlson Parkway. Other tenants affected by the negotiations included Born Inc and Provell, both of which agreed to space reductions at 301 Carlson, and SBC Telecom, which accepted a lease buyout and termination deal in the same building. Complex owner Carlson Real Estate Co. and its sister company, Tonkawa, will move to new space within the 301 Carlson building to accommodate a 401 Carlson tenant.

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