The 60,000-sf deal will make the Plymouth, MN-based medical device firm the largest tenant at 5850 Opus Pkwy. in the Opus Park office complex. Pondview Plaza, whose occupancy rate had dropped as low as 40% one year ago, is now 98% leased.
Vital Image will be moving into Pondview as of February 2005. The company will be leaving its principal office is located at 3300 Fernbrook Ln. in Plymouth, MN, where the company currently occupies about 27,000 sf under a lease that expires in July 2005. A small portion of that space is under lease until May 2006, according to the company.
The company was represented by Rick Nelson of Winthrop Commercial Services, and the property owner was represented by Mary Burnton, a senior associate with Zeller Realty Corp.
The terms of the lease were not disclosed. Zeller's Minneapolis office took over as the building's leasing agent last year.
Among the tenants recently signed by Zeller are Gruen Marketing, Sunrich Foods, Farnam Street Financial, and Automotive Development, according to Burnton.
Pondview Plaza was 100% leased until 2002, and several major tenants relocated to other buildings in 2002 and 2003, Burnton says.
Built in 1998 by Opus, Pondview Plaza is owned by Invesco Realty Advisors. The building's other tenants include Lincoln Financial, Safenet Consulting, and UBS Financial Services Inc.
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