Tenant Rep CASE STUDY
IDS Center
Minneapolis, Minnesota
Hempel relocated the client on an extremely short timeline due to a new redevelopment project within the Minneapolis CBD.
10,510
SQUARE FEET
60 month
TERM
Situation:
The Client had to relocate out of the Rand Tower due
to a new redevelopment project on an extremely short
timeline. The search required 10,000 to 12,000 square
feet in the Minneapolis CBD for the client and four
partnering companies to consolidate into one block of
office space.
Solution:
Competitive Advantage - Accessed personal network of brokers and landlords to locate a fully furnished sublease before the space fully hit the market.
Innovation – Maximized the sublease's current layout through minimal improvements to accommodate all five companies and increase space efficiency.
Value Creation – Negotiated a sublease that is approximately 65% of the market rate at IDS Center. Also negotiated incentives use of new furniture that was included in the sublease. This saved the client hundreds of thousands in incentives and furniture procurement.
tenant representation services
Your company relies on its space to operate efficiently. Hempel provides you with solutions that will drive your productivity and reflect your business culture.
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Rand Tower
THE CHALLENGE
Finding a space that meets the client's needs at budget and on time. CBD Minneapolis has many options for large tenants, but the differentiator is often cost. To place the client in the most iconic building in Downtown Minneapolis in the time frame allotted and within the defined budget was an absolute win.
