SPS Tower, a 655,070-square-foot Class-A office building located at the east entrance to downtown Minneapolis, has completed 52,540 square feet of leasing, with three existing tenants either renewing or expanding their previous leases.
With 72% occupancy, the tower, owned by Sumitomo Corporation, remains among the most occupied downtown office buildings.
Accenture, which moved to SPS in 1993 and has one of the longest tenancies in the building, has renewed its 24,500 sq. ft. lease. The accounting and consulting firm leveraged its tenant improvement allowance to remodel their space, creating more collaboration space for employees. They celebrated with a ribbon-cutting with Mayor Jacob Frey on March 14, 2025.
Mercer renewed their 24,252 sq. ft. lease, extending its home at SPS since 2013. The firm is a business of Marsh McLennan and a global leader in helping clients realize their investment objectives, shape the future of work, and enhance health and retirement outcomes for their people. They were represented by Eddie Rymer and Alex Ach from JLL.
SPS Tower completed $8 million in updates in 2024, including five new spec suites with an adjoining two-story tenant lounge space on the 19th floor. Renovations added new furniture, skyway space for new tenant FGMNT Coffee, and updates to furniture and lighting for the first floor and skyway levels.
The tower finished 2024 with more than 90,000 sq. ft in lease renewals, expansions, and new tenants. New leases included a 5,700 sq. ft. lease for Capillary, a travel brand loyalty business, and a 9,000 sq. ft. lease for Navitaire, an e-commerce platform for travel providers. Renewals included an 11,000 sq. ft. renewal and expansion for law firm Squires Waldspurger & Mace, and 3,500 sq. ft. renewal for long-time tenant Strong Tower.
One of the most unique renovations included the Turf Club, the largest lawn in downtown Minneapolis. It is a 6,000 SF seven-hole country-club style putting green and adjacent Turf Club Terrace entertainment space. It has hosted formal and informal golf competitions for tenants and professional groups.
The tower continues to evolve with several significant projects slated for 2025:
• New fast-casual and full-service restaurants with expanded patio seating
• Conference center and tenant lounge
• Upgraded fitness center and secure bike storage
• LED lighting retrofit in the parking ramp to cut energy use
• Major system upgrades to drive further energy efficiency
SPS Tower is managed and leased by Transwestern. Jim Montez handles leasing for the tower; Bob Traeger is the property’s general manager.
