MINNEAPOLIS—The downtown office market of this energetic vibrant city has been on a roll lately. In addition to a just-constructed Vikings stadium, lucrative office sales and new mixed-use developments, the CBD has steadily attracted office users from outlying areas.
Select Comfort, which manufactures and sells Sleep Number beds, recently decided to relocate its headquarters from suburban Plymouth to a downtown facility in October 2017. It will occupy a 211,000-square-foot headquarters at 1001 Third Ave. S., a five-story, 476,000-square-foot office building.
Transwestern principal Reed Christianson represented the building owner, DCI Technology Holdings, in the 15-year lease.
“Like Chicago, we've seen a big suburban-to-urban migration,” he says. The CBD now “has a very vibrant nightlife, as well as new restaurants, retail, and especially new residential,” just the combination that employers look for when picking a new location.
Select Comfort operates two suburban locations, and by choosing a new headquarters of this size, the company can consolidate the operations. Furthermore, their new headquarters hosts a data center, and the power it can provide makes this property “well-suited for a large corporate user.”
“This property occupies a full city block and has sat mostly vacant since 2014,” he adds. “Our lease with Select Comfort – the city's largest incoming office user in many years – will further enhance the up-and-coming southeast corner of downtown and make it a popular destination for employers looking to recruit and retain top talent.”
MINNEAPOLIS—The downtown office market of this energetic vibrant city has been on a roll lately. In addition to a just-constructed Vikings stadium, lucrative office sales and new mixed-use developments, the CBD has steadily attracted office users from outlying areas.
Select Comfort, which manufactures and sells Sleep Number beds, recently decided to relocate its headquarters from suburban Plymouth to a downtown facility in October 2017. It will occupy a 211,000-square-foot headquarters at 1001 Third Ave. S., a five-story, 476,000-square-foot office building.
Transwestern principal Reed Christianson represented the building owner, DCI Technology Holdings, in the 15-year lease.
“Like Chicago, we've seen a big suburban-to-urban migration,” he says. The CBD now “has a very vibrant nightlife, as well as new restaurants, retail, and especially new residential,” just the combination that employers look for when picking a new location.
Select Comfort operates two suburban locations, and by choosing a new headquarters of this size, the company can consolidate the operations. Furthermore, their new headquarters hosts a data center, and the power it can provide makes this property “well-suited for a large corporate user.”
“This property occupies a full city block and has sat mostly vacant since 2014,” he adds. “Our lease with Select Comfort – the city's largest incoming office user in many years – will further enhance the up-and-coming southeast corner of downtown and make it a popular destination for employers looking to recruit and retain top talent.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
