Captrust And Strong Tower Wealth Management Extend Leases At SPS Tower In Minneapolis
333 S 7th St Minneapolis, MN 55402, USA
$28
$28/SF
Building Size
10,300 SF
Asset Type
Office
Closing
May 23, 2023
AI
Transwestern Real Estate Services has negotiated lease renewals for two wealth management companies at SPS Tower in Minneapolis. CAPTRUST renewed their lease for five years, while Strong Tower Wealth Management also extended their lease. The office space, located at 333 South 7th Street, covers 10,300 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Date: 05/23/2023
- Address: 333 South 7th Street, Minneapolis
- Landlord: Sumitomo
- Tenant: CAPTRUST & Strong Tower Wealth Management
- Landlord's Representative: Jim Montez & Reed Christianson - Transwestern Real Estate Services
- Tenant's Representative: John Lorence - CBRE
- Asking Rent: $28.69/ft.
Jim Montez and Reed Christianson, representing Transwestern Real Estate Services, successfully brokered the lease renewals for CAPTRUST and Strong Tower Wealth Management. These agreements ensure their presence in SPS Tower for the foreseeable future, solidifying their position in the Minneapolis market.
Players
Minneapolis Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
566535.71%
Cash-on-Cash
-161917.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93