In a year of challenges for greater Twin Cities commercial real estate, a recently renovated office tower in Edina, Minnesota, went from 0% to 75% leased in 2022.
Signaling a bright spot for office leasing, City Center Realty Partners, LLC (CCRP)signed four additional tenants for The E at 7201 Metro Blvd. in Edina by the year’s end. The nine-story building is now home to eight companies.
CCRP, which owns The E in a joint venture with Contrarian Capital Management, completed a $7.5 million renovation at the end of 2021, modernizing the 107,000-square-foot building with an urban-inspired design and premium shared amenities.
The E’s new tenants are Addison Group; Therapy Suites; Tressler Law Group; and Edina Chamber, Explore Edina and Innovation Lab. Relievant Medsystems and Mitsubishi HC Capital America were the first tenants to move into the building, having completed their tenant improvements last fall. Other previously announced tenants are Spell Capital and Employer Solutions Group. CCRP anticipates all eight tenants’ offices will be fully built-out and occupied by late spring.
“It’s fantastic to see our team motivated and excited to come into the office,” said Jim Teal, President and COO at Mitsubishi HC Capital America, Vendor Services. “We’re very happy with Mitsubishi’s new workspace at The E, and also with the well-designed collaborative spaces and terrific amenities. There’s great energy and vitality here already.”
The E’s hospitality-style amenities provide numerous opportunities for alternate workspaces and break areas, including an outdoor gathering space; a tenant lounge with multiple seating areas and fireplace; training and conference rooms; a fitness center; and a patio bar. In addition to the building’s high-quality aesthetic, unique elements include murals by local artists, a chef-prepared meal program from The Wandering Kitchen and a fleet of shared e-bikes, lending a modern, boutique office experience to the building.
CCRP has long focused on bringing a design-forward aesthetic to their portfolio of commercial buildings. The development firm’s repositioning of the historic TractorWorks building in Minneapolis was a pioneering project as the North Loop district transformed from a manufacturing hub into one of the city’s most popular destination neighborhoods. Based in San Francisco, CCRP is also leading the development of 1.5 million square feet of several life science assets in the Bay Area, a hotbed for the biotech industry.