{"id":1004495605,"date":"2020-11-25T06:16:30","date_gmt":"2020-11-25T14:16:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004495605"},"modified":"2025-02-26T02:23:27","modified_gmt":"2025-02-26T10:23:27","slug":"transwestern-brokers-minneapolis-anchor-lease-renewal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transwestern-brokers-minneapolis-anchor-lease-renewal\/","title":{"rendered":"Transwestern Brokers Minneapolis Anchor Lease Renewal"},"content":{"rendered":"<div id=\"attachment_1004495614\" style=\"width: 190px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/SPS-Tower.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004495614\" data-attachment-id=\"1004495614\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/transwestern-brokers-minneapolis-anchor-lease-renewal\/sps-tower-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/SPS-Tower.jpg\" data-orig-size=\"600,1000\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"SPS Tower\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;SPS Tower. &lt;i&gt;Image courtesy of Transwestern&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/SPS-Tower.jpg?w=600\" class=\"wp-image-1004495614 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/SPS-Tower.jpg\" alt=\"\" width=\"180\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/SPS-Tower.jpg 600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/SPS-Tower.jpg?resize=180,300 180w\" sizes=\"auto, (max-width: 180px) 100vw, 180px\" \/><\/a><p id=\"caption-attachment-1004495614\" class=\"wp-caption-text\">SPS Tower. <i>Image courtesy of Transwestern<\/i><\/p><\/div>\n<p>Transwestern has completed a lease renewal at SPS Tower, a 655,070-square-foot office high-rise in Minneapolis. President Jim Montez and Principal Reed Christianson negotiated on behalf of the owner, Sumitomo Corp. Pete Kostroski and Chris Rohrer of Rokos Advisors assisted the building\u2019s namesake tenant, SPS Commerce Inc.<\/p>\n<p>In 2018, the company occupied 168,000 square feet spread across seven floors in the 31-story tower. Following a lease extension and renewal, the firm became the largest tenant in the building, which was rebranded as SPS Tower. The global retail supply chain company currently occupies 216,000 square feet on floors three through 10, as well as the high-rise\u2019s 16th floor.<\/p>\n<p>Located on 3 acres at 333 S. Seventh St. in the city center, the LEED Gold-certified building was completed in 1986 and renovated in 2015. Recently, the owner has invested in further upgrades, adding touchless elevators and electrostatic disinfecting cleaning protocols. The property has subterranean parking, a conference center, 3,000 square feet of retail space and a gym.&nbsp;<\/p>\n<p>Sumitomo Corp. <a href=\"https:\/\/www.commercialsearch.com\/news\/sumitomo-corp-buys-144m-minneapolis-office-asset\/\">paid $144 million for SPS Tower<\/a> in February 2019. CalSTRS sold the asset after 19 years of ownership, according to CommercialEdge data.<\/p>\n<div><em>If you\u2019d like to be featured in Brokers\u2019 Corner, simply fill in <\/em><a href=\"https:\/\/www.surveymonkey.com\/r\/BrokersCorner\" target=\"_blank\" rel=\"noopener\"><strong><em>our short form<\/em><\/strong><\/a><em> or send your deal to <\/em><a href=\"mailto:deals@cpe-mhn.com\" target=\"_blank\" rel=\"noopener\"><strong><em>deals@cpe-mhn.com<\/em><\/strong><\/a><em>.<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jim Montez and Reed Christianson represented Sumitomo Corp., the owner of the 655,070-square-foot SPS Tower.<\/p>\n","protected":false},"author":867,"featured_media":1004365520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,13,36076,21742,21747],"tags":[32779,34374,33313],"class_list":["post-1004495605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-midwest","category-minneapolis-st-paul","category-latest","category-office","tag-leed","tag-sumitomo-corporation","tag-transwestern"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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