JLL helped Alerus Financial, N.A. complete office lease transactions for two broader Minneapolis – St. Paul market locations, helping the company relocate its Shoreview and Minnetonka, Minnesota, offices.
The two transactions were both expansions of current office footprints and long-term leases, totaling nearly 53,000 square feet between both Shoreview and Minnetonka locations.
The Shoreview, Minnesota, office is located at The Lex at 4100 Lexington Ave. and the Minnetonka, Minnesota office is located at Crescent Ridge II at 10900 Wayzata Blvd. Both new offices will provide Alerus the ability to install exterior top-of-building signage, helping the company deepen its visibility and roots across the Twin Cities.
JLL’s Eddie Rymer, senior vice president, and Alex Ach, vice president, represented Alerus in finalizing the leasing transaction with Eagle Ridge Partners, the property landlord at 4100 Lexington Ave, and Piedmont Office Realty Trust, the property landlord at 10900 Wayzata Blvd. JLL project and development services (PDS) teams are assisting both projects, helping manage workplace design and redevelopment initiatives from inception to close-out.
The Minneapolis – St. Paul market has seen large volumes of office leasing in Trophy and Class A assets over the last year: 19% of all leases were in Trophy buildings and 53% of all leases were in Class A buildings.
