March 08, 2016
MINNEAPOLIS – Transwestern today announces it has been retained by Zeller Realty Group Inc. to provide leasing services for the 1,063,656-square-foot Fifth Street Towers, a two-building office complex located in downtown Minneapolis. The property is currently 65 percent occupied with an additional 47,223 square feet of leases expiring in 2016. Transwestern Principal Reed Christianson, Vice President Erin Wendorf and Associate Will McDonald have been tasked with creatively marketing and repositioning the building to drive leasing.
“Timing for re-introducing this property to the market couldn’t be better,” said Christianson. “The Minneapolis office market is changing as properties compete for high-quality tenants seeking creative space to attract and retain top talent.”
“Transwestern’s dynamic vision and creative process are unrivaled in this market,” said Zeller Realty Group Executive Vice President Jim Durda. “This type of product is exactly what the Minneapolis market needs – and Transwestern’s excellent work on Washington Square and other projects has proven they can execute.”
Transwestern most recently partnered with Shorenstein to reposition Washington Square. In the past
12 months, the team has signed 194,094 square feet in new leases and is negotiating an additional
65,000 square feet of new leases with 540,000 square feet of prospective deals.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver 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. 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 office, follow @TranswesternMN.
ABOUT ZELLER REALTY GROUP
Zeller Realty Group (ZRG) is a vertically integrated commercial real estate investment and development firm that has offered investors exceptional expertise, innovation, and insight to value for over 28 years. ZRG strategically selects properties for value creation, repositioning and reintroduction to their markets, while maximizing efficiency by providing a full spectrum of real estate services, from development, to management, to leasing. Headquartered in Chicago, Illinois, ZRG owns and operates assets in the Midwest and Colorado, and continues to grow and expand its holdings nationally. Since its formation, the company has delivered strong returns for its partners and co-investors while completing more than $2 billion of acquisition and development activity. Currently, ZRG owns and operates a portfolio of 6.8 million square feet valued at $1.6 billion, and manages another 750,000 square feet of office properties, providing best-in-class service to enhance value. For more information, please visit: www.zellerrealty.com.