Eden Prairie, Minn.-based Liberty Property Trust closed 18 lease agreements totaling more than 600,000 square feet of space in the Minnesota region during the first five months of 2013.
“Whether we have been working with prospects on new leases, renewals or expansions, there’s been an energy of ‘moving forward’ that has been strong since the start of the year,” said Dave Jellison, senior vice president and city manager for Liberty’s Minnesota region, in a written statement.
Liberty’s portfolio is primarily based in northwest and southwest Minneapolis submarkets. One building type that is seeing a growing resurgence is “flex” space.
“Flex has become more and more active in the last few months, especially when compared with two years or even a year ago,” said Jellison. “As we head into the late spring and summer, we are encouraged by the number of tenants seeking not just to see space but to commit to a location.”
