November 08, 2016
MINNEAPOLIS – Transwestern today announces it completed a 211,000-square-foot headquarters lease at 1001 Third Ave. S., a five-story, 476,000-square-foot office building in downtown Minneapolis. Select Comfort, which manufactures and sells Sleep Number beds, plans to relocate its headquarters from suburban Plymouth to the downtown facility in October 2017. Transwestern Principal Reed Christianson represented the building owner, DCI Technology Holdings, in the 15-year lease.
“This property occupies a full city block and, with the exception of a data center, has sat mostly vacant since 2014,” said Christianson. “Our lease with Select Comfort – the city’s largest incoming office user in many years – will further enhance the up-and-coming southeast corner of downtown and make it a popular destination for employers looking to recruit and retain top talent.”
Approximately 900 employees will be based out of Select Comfort’s new headquarters, which, in addition to executive office space, will house a call center and research and development lab. In conjunction with the lease, DCI Technology will complete a multimillion-dollar renovation of the property that will include the addition of a fitness center and cafeteria on the fifth floor, among other common area improvements.
“These renovations will add additional value to a building that already benefits from its proximity to new retail, restaurant and residential offerings,” said Christianson. “The addition of Select Comfort, together with ongoing investment in the surrounding neighborhood, including the brand new Kraus-Anderson mixed-use development just a couple of blocks away, is a huge win for downtown Minneapolis, and we’re proud to be a part of it.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Minneapolis team, follow @TranswesternMN.
Gretchen Muller, Taylor Johnson Public Relations