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Welsh Brokers Join in 225 South Sixth Leasing

MINNEAPOLIS-The 1.4-million-sf tower currently has about 350,000 sf of availability.

By Danielle Anderson | Updated on January 19, 2007

MINNEAPOLIS-A local NAI Welsh team has been tapped to assist with the leasing of 225 South Sixth, a 1.4-million-sf Class A office tower downtown, according to property manager Hines. The 53-story building, which is owned by ASB Capital Management, currently has approximately 350,000 sf of availability.

Both Hines’ Bob Pfefferle and Welsh’s Nils Snyder say the building is well positioned to take advantage of improving market conditions. “With the building’s premier location, amenities, and current tightening of the Class A market, we will be in a good position to do some significant leasing in 2007,” Pfefferle says. During the fourth quarter, downtown Minneapolis experienced 47,000 sf of positive absorption, according to a CB Richard Ellis Q4 report. Class A vacancy is 13.04%, while the overall downtown vacancy rate is 15.58%.

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