Meyer Borgman Johnson Leases 12,277 Square Feet At RSM Plaza Minneapolis From Golub & Co
801 Nicollet Mall
Building Size
416,000 SF
Asset Type
Office
Closing
Feb 27, 2025
AI
The asset involved in this transaction is an office space located at 801 Nicollet Mall in Minneapolis, MN. The total square footage of the property is 416,000, and it currently houses various amenities that support modern office needs.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 801 Nicollet Mall
- Market: Minneapolis, MN
- Landlord: Golub & Co
- Tenant: Meyer Borgman Johnson
- Landlord's Representative: Reed Christianson & Trinette Wacker - Transwestern
- Tenant's Representative: Jeffrey LaFavre & Zach Synstegaard - IAG Commercial
- Lease Date: 02/27/2025
- Headquarters Move Date: June 1
- Leased Space: 12,277 square feet
Meyer Borgman Johnson, represented by Jeffrey LaFavre and Zach Synstegaard from IAG Commercial, has finalized a long-term lease for the 20th floor of RSM Plaza. The property has undergone a $10 million renovation in 2018, which introduced improved amenities such as The Perch Lounge and enhanced collaborative meeting areas.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93