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801 Nicollet Mall

Meyer Borgman Johnson Leases 12,277 Square Feet At RSM Plaza Minneapolis From Golub & Co
LEASEDOffice

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

Reed Christianson

Transwestern

Broker

3 deals

Broker
GC
Golub & CompanyLandlord

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