CBRE signed three office leases across Minneapolis–St. Paul to support flexible work and long-term growth for its Advisory local brokerage and Business Service Organization (BSO) businesses.
CBRE signed a 15,586-square-foot lease at Arcadia, 5115 Arcadia Ave. in Edina, for its Advisory employees. CBRE’s John Ferlita and John Lorence represented the company. Opus is currently constructing the 118,000-square-foot, six-story building and CBRE is among the initial tenants scheduled to occupy the property upon delivery.
CBRE also signed a 5,871-square-foot lease at U.S. Bancorp Center, 800 Nicollet Mall, to provide a downtown option for its Advisory employees. CBRE’s Brandon Megal represented the company in the transaction. The U.S. Bancorp Center is a 937,000-square-foot, 32-story office building owned by Piedmont Realty Trust and has recently undergone extensive renovations to enhance the tenant experience, modernize common areas, and elevate the overall hospitality-inspired environment at the building.
“These new locations are truly an investment in our people and represent the commitment we have in empowering the way they work now and in the future,” said CBRE’s Jeff Jiovanazzo, Managing Director in Minneapolis. “By combining a dynamic downtown presence with a strategically located suburban environment, we’re giving our professionals greater flexibility, greater opportunities for collaboration, and access to purposefully designed spaces that support both productivity and client engagement.”
Additionally, CBRE signed a 27,331-square-foot lease at One Meridian in Richfield to house its BSO, Property Management Accounting and Investment Accounting & Reporting businesses. CBRE’s John Lorence represented the company in the lease negotiations. The 204,862-square-foot, eight-story building, also owned by Piedmont Realty Trust, is undergoing renovations to enhance the workplace environment. Piedmont completed a full transformation of Two Meridian last year, which will drive the design behind the current renovations at One Meridian.
“Over the past two years, Piedmont Realty Trust has made significant investments into its Minneapolis portfolio, including One and Two Meridian, 9320 Excelsior and U.S. Bancorp Center,” said Patrick McGregor, Piedmont’s VP of Asset Management. “This shift to focus on the creation of a hospitality environment, collaborative tenant spaces and elevated amenities has been well received in the market, resulting in significant leasing. We are thrilled to welcome CBRE to U.S. Bancorp and One Meridian.”
CBRE employees will relocate from Two MarketPointe in Bloomington into the three new office spaces in the first half of 2027. The new offices are part of CBRE’s Workplace360 program, which showcases the company’s “Future of Work” space standards, including innovative technology and a wide variety of collaborative spaces designed to support hybrid working.
