For Magazine coverOther Use @mosphere a Schafer Richardson North Loop Office Community PAID PRSRT STD PRSRT U.S. POSTAGE TWIN CITIES, MN PERMIT NO. 7098 ADDRESS Supplement to Finance & Commerce and Minnesota Lawyer. 2 Twin Cities Tenant finance-commerce.com Fall/Winter 2016 BEYOND THE FITNESS CENTER Enhanced amenities are becoming almost standard 3 for office buildings A WORKPLACE FOR THE FUTURE PwC’s new HQ offers 4 flexibility with a view TENANT DATA 6 Enhanced Listings 8 Office Properties 16 Industrial/Flex Properties @mosphere is an 11 story state-of-the-art office community focused on efficiency and access, adding 200,000 SF of Class A office space and 4,500 SF of street level retail to the vibrant North Loop neighborhood of Minneapolis. @mosphere features 300 parking spaces, a grand lobby entrance, rooftop deck, and is perfectly located less than half a mile from Target Field Station & Rail Platform, I-394/I-94/State Highway 55, biking/walking trails and a variety of new retail, restaurant and entertainment venues. ADMINISTRATION CREATIVE President & Publisher Staff Photographer Twin Cities Tenant is a special publication of FINANCE & COMMERCE, 222 South Ninth St., Suite 2300, Twin Cities, MN 55402. Bill Gaier 612-584-1537 Bill Klotz 612-584-1562 Telephone: 612-333-4244 or 800-397-4348. Fax: 612-333-3243. ©2016 FINANCE & COMMERCE ALL RIGHTS RESERVED EDITORIAL ADVERTISING SALES POSTMASTER: Electronic Address Change Service Requested, Editor Advertising Supervisor “Finance & Commerce” Subscription Services 10 Milk St Ste 1000, Casey Selix 612-584-1556 Mark Berriman 612-584-1539 Boston MA 02108 Assistant Editor/ Subscription Rates – Payable in Advance Advertising Account Executives Special Sections Editor 800-451-9998 / [email protected] Sheila Bennett 612-584-1544 One year . $249 David Bohlander 612-584-1527 David Seawell 612-584-1545 Finance & Commerce is owned by BridgeTower Media, Contributing Writers 222 South Ninth St., Suite 2300, Minneapolis, MN 55402. Dan Heilman, Todd Nelson Fall/Winter 2016 finance-commerce.com Twin Cities Tenant 3 STAFF PHOTOS: BILL KLOTZ A small wooded area on the 333 Turf Club grounds, at 333 S. Seventh St. in Minneapolis, provides cooling shade on warm days. BEYOND THE FITNESS CENTER Enhanced amenities are becoming almost standard for office buildings By Dan Heilman Special to Finance & Commerce In an ever-competitive market for office tenants, the new arms race might be about who can add the most glitter to otherwise plain spaces. Under the catch-all phrase enhanced amenities, building owners are adding tenant-exclusive frills to their spaces that go “You can pay beyond such once-exotic touches as fitness centers workers a market and on-site dry cleaning. The current standard salary, but bearer in the category when they have might be the 333 Turf Club at the 333 South multiple options, Seventh Street tower, once known as the they consider Accenture Tower. The things about outdoor green space invites tenants – and what the work tenants only – to enjoy live music, fitness classes environment is and happy hours. “Everyone seems to like.” have their own mix of — Jim Montez, senior director, amenities right now,” The rock/funk band Wild Honey performs on the 333 Turf Club lawn as part of the concert series held every Thursday Cushman & Wakefield/ said Jim Montez, senior at noon during the summer months. NorthMarq director with Cushman & Wakefield/NorthMarq. “Every building is doing something, but not Its Campbell Mithun Tower, at Ninth Street and all asked about the potential for upgrading the everyone is doing the same thing. That has to do Third Avenue in downtown Minneapolis, was one building’s amenities. in part with the physical limitations of the space, of the first in the city’s central business district “Before we put those things in, the building budget and timing.” to offer onsite fitness and conference centers hadn’t done any new leasing in three years,” said Montez and C&W/NorthMarq have been in a decade ago. With that building now for sale, on the enhanced-amenities trend from the start. Montez said, prospective buyers have almost AMENITIES TO PAGE 5 4 Twin Cities Tenant finance-commerce.com Fall/Winter 2016 No one at PwC’s Minneapolis headquarters has a dedicated office or desk. Instead, everyone reserves a desk, office or conference room through a “hoteling” system online. A WORKPLACE FOR THE STAFF PHOTOS: BILL KLOTZ future PwC’s new HQ offers flexibility with a view By Todd Nelson Special to Finance & Commerce Millennials and other employees work amid images of iconic Minnesotans — including Prince, F. Scott Fitzgerald and Bob Dylan — as well as spectacular downtown views at PricewaterhouseCoopers’ new Minneapolis headquarters in what’s now PwC Plaza. The bright, modern, open, thoroughly technology-connected Various rooms are named after famous Minnesotans, such as the Prince conference room shown workspace is designed to help retain the nearly here, and landmarks such as the Guthrie Theater, First Avenue, Fort Snelling and Itasca State Park. 700 workers who moved in July 18 and recruit “I heard others to join them, according to Tom Montminy, want them to collaborate,” Montminy said. “If you create the right managing partner of PwC’s Minneapolis market. environment where they can sit where they want, they’ve got flexibility somebody say The Minneapolis office of PwC, a New York-based to come and go, have different views and give them the technology, that they walked professional services firm, occupies 66,000 square they’re never slowed down. We don’t want to slow anyone down.” feet on the three-plus floors of the former Plaza Employees can work, eat lunch or relax on two separate decks in here and Seven office tower at 45 S. Seventh St., above the that afford a 360-degree view of the skyline, including a bird’s-eye Radisson Blu Minneapolis Downtown hotel. view of Target Field, and well beyond. The casual deck features thought it was About 70 percent of employees are millennials, a putting green, foosball and a ping-pong table, while the formal a share that will approach 80 percent over the next deck has a fire pit, couches and tall tables suitable for food service more of a creative handful of years, Montminy said. Millennials were or happy hours at office social gatherings. “This was definitely a agency than an heavily represented on the staff committees that big selling point,” Montminy said of the patio spaces. “There’s no had input on design choices such as colors, seating question that this is different than any other space that we’re aware accounting firm options and artwork as well as naming various of in town, especially at this elevation.” rooms after famous Minnesotans and landmarks A game console with a stack of titles offers a change of pace and we said, such as the Guthrie Theater, First Avenue, Fort while rooms for nursing mothers on each floor have a fridge, sink Snelling and Itasca State Park. and comfortable chair, and “serenity” rooms offer a place to play ‘Perfect.’ ” “This was really built for our workforce of today or rest one’s eyes. Artwork, much of it locally commissioned, is — Tom Montminy, and the future by our workforce of today, quite almost as ubiquitous as the technology. It includes an interactive managing partner, PwC frankly,” Montminy said. light board with glowing disks that change color when turned. To that end, the office offers a variety of “I heard somebody say that they walked in here and thought spaces, with wireless connectivity, monitors and it was more of a creative agency than an accounting firm and we other technology throughout: open floor plan said, ‘Perfect,’” Montminy said. We’re not advertisers but it’s about areas with groups of desks for individual or team work, “huddle creativity, solving (companies’) problems and helping society.” spaces” that encourage collaboration and smaller “focus rooms” for Managers and partners have offices, but no one — not even private calls or meetings. “With millennials you want flexibility, you want technology and you PwC TO PAGE 5 Fall/Winter 2016 finance-commerce.com Twin Cities Tenant 5 AMENITIES “Especially in places Continued from page 3 with destination or Montez. “Once we did it, we did just walk-through traffic, under 250,000 square feet of leasing in three years.” there is something Observers agree that one driver behind the new push for ever- to be said for walking improving amenities is the law of into a building with a supply and demand: With Minnesota’s unemployment rate at 4 percent in big, beautiful atrium.” August, employers are finding a greater need for a wow factor in their spaces to — Eli Russell, director of marketing and leasing, JGM Properties entice the top workers – and are asking their landlords to make it happen. “It impresses job candidates, and it impresses clients,” said Eli Russell, director of marketing and leasing for help me get the best talent possible?’” STAFF PHOTO: BILL KLOTZ Bloomington-based JGM Properties. Russell said that each tenant business Tom Montminy, managing partner of PwC’s Minneapolis market, spends some time on the casual “Especially in places with destination or must do its own cost-benefit analysis deck’s putting green. The deck also features foosball and a ping-pong table. walk-through traffic, there is something on whether enhanced amenities are to be said for walking into a building worthwhile. He estimated that the rent The arrangement also affords PwC, with a big, beautiful atrium.” per square foot in a downtown building PwC which signed a 12 1/2-year lease, room to “Employment is the driver,” agreed with such amenities is likely to be twice Continued from page 4 grow.