BLOOMINGTON, MN-Universal Hospital Services Inc. has taken a full floor, totaling 54,797 square feet, at the 325,000-square-foot building here that was formerly completely occupied by Express Scripts. The new multitenant building has been renamed One Liberty Corporate Center.
Liberty Property Trust, based in Malvern, PA, developed the building, located at the northwest corner of Interstate 494 and Bush Lake Road, in 1998 for GlaxoSmithKline. After a number of company name changes and mergers, Express Scripts was the sole tenant until this summer. David Jellison, SVP with Liberty, tells GlobeSt.com that the tenant had to drop some space. “Express Scripts downsized to 200,000 square feet at the building,” he says.
The downsizing left open the two floors of more than 120,000 square feet, Jellison says. “Universal wanted to update their image, and they liked the large, contiguous floor plate,” he says. Universal is relocating its US headquarters from Edina to One Liberty, so named because the building is the first property built by Liberty in the Minnesota market.
The building is now about 77% occupied, and signage will be changed to reflect that it is now a multitenant property. “We knew when we built it that one day it might have to be marketed as multitenant,” Jellison says. “We feel comfortable we can find tenants, there’s a shortage of large blocks of quality office space in the Minneapolis market.”
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