LCN Capital Partners has engaged a Cushman & Wakefield team led by executive director Tom O’Brien and executive managing director Dan Gleason to market 9900 Bren Road in Minnetonka, Minnesota, and seek strategic alternatives for the property, which has served as UnitedHealth Group’s corporate headquarters since 1998.
The development at Bren Road and U.S. Highway 169 is a 20-acre corporate campus that includes a 10-story, 343,602-square-foot Class-A office building. The property offers a combination of premier asset quality and outstanding location in Minneapolis’ most prominent suburban office submarket. New York-based LCN acquired the property from UnitedHealth Group in 2014 in a sale-leaseback transaction. The lease expires in December of 2024.
Given the boom in redevelopment and residential activity in the area, Cushman & Wakefield expects see interest from developers considering other uses for the property.
According to the City of Minnetonka’s 2040 Land Use Plan, the future zoning on this site, located within Opus Business Park, is mixed-use. The 640-acre Opus Business Park includes more than 2,400 existing or planned residential units, more than 4.2 million square feet of commercial space and six miles of trails, As well as serving as UnitedHealth Group’s headquarters, the park’s tenants include Boston Scientific, American Family Insurance, The Opus Group and Opportunity Partners among the 136 business that call it home.
