Faegre Drinker Biddle & Reath Renews 175,000-Square-Foot Lease At Wells Fargo Center In Minneapolis

The asset involved in this transaction is an office space located at 90 South 7th Street in Minneapolis, MN. The property is part of the Wells Fargo Center, boasting a total square footage of 1.2 million, with the specific lease renewal encompassing 175,000 square feet across floors 20 through 27.

Summary of transation details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Landlord: Onward Investors
• Tenant: Faegre Drinker Biddle & Reath
• Broker: Joe Conzemius - CBRE
• Occupancy Rate Post-Renewal: Above 70%
• Acquisition Price: $85 million in 2024

This lease renewal represents a strategic move by Faegre Drinker Biddle & Reath to solidify its presence in a prime location. The deal contributes to the ongoing repositioning efforts by Onward Investors, who are enhancing the tenant roster of the building by securing multiple law firm leases.