Transwestern to Lease Minneapolis Office Tower
Mapletree acquired the property in 2017 for more than $253 million.
50 South Sixth was designed by Skidmore, Owings & Merrill. Image courtesy of CommercialEdge
Mapletree Investments has tapped Transwestern Real Estate Services to lease 50 South Sixth, a 698,606-square-foot office building in downtown Minneapolis. Principal Reed Christianson and Vice President Trinette Wacker will lead the leasing efforts.
Mapletree acquired the building in 2017 for $253.5 million, according to CommercialEdge data. The owner recently implemented extensive capital improvements adding features that regulate indoor air quality and maximize energy efficiency, as well as an enhanced visitor management system.
Designed by Skidmore, Owings & Merrill, the 29-story tower came online in 2001, featuring 32,000-square-foot floorplates, along with 40,000 square feet of retail space. Amenities include a lounge, conference center and fitness center. Located at 50 S. Sixth St., the property is within Minneapolis’ central business district, being surrounded by retail and public transport options.
The Minneapolis office market registered a vacancy rate of 20.2 percent in the second quarter of this year, according to a CBRE report. Leasing activity totaled 1.2 million square feet, up 37 percent year-over-year, the majority of deals involving Class A space, the same data reveals.
Transwestern also handles leasing and management at other Mapletree properties, including assets in Oakland, Calif., and Richardson, Texas. Recently, the firm was selected by Stonebridge to lease a 370,000-square-foot office tower in the Washington, D.C., area.
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