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Värde Partners Signs 12-Year Lease For Office Space At North Loop Green In Minneapolis
LEASED
$35
Minnesota
See Similar DealsOffice28,000 SF
Leased 06/15/2023
LEASED
Värde Partners Signs 12-Year Lease For Office Space At North Loop Green In Minneapolis
350 N 5th St Minneapolis, MN 55401, USA
See Similar DealsOffice28,000 SF
Leased 06/15/2023
Summary
MINNESOTA
Asset Type:Office
Price Per Square Foot:$35
Total Square Footage:28,000 SF
Transaction Type:Lease
Värde Partners, a financial investment firm, has signed a 12-year lease for a full floor at North Loop Green, a mixed-use development located at 350 North 5th Street in downtown Minneapolis. The lease agreement encompasses 28,000 square feet of office space. The transaction was facilitated by JLL on behalf of Värde Partners, with Hines and JLL representing the ownership.
Summary of transation details
- Property Type: Office
- Transaction Amount: $35/ft.
- Square Footage: 28,000
- Address: 350 North 5th Street
- Market: Minneapolis
Hines, AFL-CIO Building Investment Trust, and Marquee Development serve as the landlords of the property. Bob Pfefferle, representing Hines, played a role in the lease agreement. Meanwhile, Jim Dunbar from Värde Partners acted as the tenant. The deal was also supported by brokers from Hines and JLL. The financial terms of the lease were not disclosed.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,123,460.17
Total Lease Value
$11,234,601.73
Net Landlord Cash Flow$1,123,460.17
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