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Campbell Mithun Tower Sees 119,000 SF in Leases

MINNEAPOLIS-Recent activity in the 725,000-sf tower includes eight new leases and four lease renewals, including a 90,000-sf extension with Berkley Risk Administrators.

By Danielle Anderson | Updated on December 04, 2006

MINNEAPOLIS-Campbell Mithun Tower, a 725,000-sf building purchased by Principal Real Estate Investors in 2005, has landed eight new tenants and secured renewals with four existing tenants. The deals, which total 119,000 sf, include a 90,000-sf lease extension that is being finalized with Berkley Risk Administrators Co.

Jim Montez, a senior brokerage associate with United Properties, tells GlobeSt.com that early renewals are a recurring theme in the Downtown market. On the landlord side, the motivation to lock in large tenants is being driven in part by rumblings of possible new construction. “Landlords want to keep their tenants away from being an anchor in a new development,” Montez explains, adding that tenants’ varied reasons include economic factors and changing space needs.

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