MINNEAPOLIS—SPS Commerce just signed an agreement to expand the amount of space it occupies at 333 South Seventh Street in Minneapolis to more than 214,000 square feet. As a result, the firm will lease about one-third of the 31-story tower, making it the largest tenant. The owner also agreed to rename the building SPS Tower.
“They reached a magic threshold in terms of square footage,” Casey Sobhani, a partner at DLA Piper, tells GlobeSt.com. DLA Piper, a global law firm, represented the landlord, a public pension fund advised by the international investment management company CBRE Global Investors, in the negotiation.
“It's been a good fit for the building,” he adds, and recent improvements to the property, now nearly filled, have made it even more appealing to tenants. It received another connection to Minneapolis' famed Skyway, making it far more convenient to use the elevated walkway system so important to office workers in the long winter. “You can walk for blocks and blocks without ever going outside.”
The SPS Tower might have a new name, but it's a renowned fixture in the Minneapolis skyline and one of the prime buildings in the city's vibrant central business district. It is one of the few, for example, to have a sizable grassy area, Sobhani says. “It almost feels like a park.” It also has class A amenities, including fitness and conference centers.
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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.
