MINNEAPOLIS, Minnesota (June 14, 2023) – KBS, one of many largest homeowners and operators of premier business actual property buildings within the nation, publicizes that main Midwest regulation agency Fredrikson & Byron has moved into the roughly 158,000 square-foot area to which the regulation agency had dedicated three years in the past at 60 South Sixth, a Class A, 40-story, 710,332 square-foot workplace tower and retail advanced in downtown Minneapolis, Minnesota. 60 South Sixth is owned by KBS Actual Property Funding Belief III.
Additional, KBS publicizes that two further workplace tenants have signed lease agreements at 60 South Sixth. Greatest & Flanagan LLP, a domestically based mostly regulation agency, renewed 28,250 sq. ft, and Dacotah Financial institution, a Midwest regional monetary establishment, now occupies 5,125 sq. ft on the workplace tower.
“KBS has an in depth historical past of figuring out properties inside key markets all through the nation which might be positioned for strong efficiency in the long run,” says Ryan Pires, assistant vp for KBS and asset supervisor for 60 South Sixth. “Our latest exercise at such a outstanding workplace tower within the Downtown Minneapolis market is an instance of our means to personal and function well-located, superbly amenitized properties that appeal to top-tier tenants in these markets, even within the face of present sector challenges nationwide.”
In 2020, upon signing its new lease with KBS at 60 South Sixth, John Koneck, president of Fredrikson & Byron, had famous that the agency dedicated to the settlement to this point upfront of the move-in date partially due to the top quality of the property, its location, and the distinctive means to amass a block of Class-An area on Nicollet Mall in Minneapolis for its future headquarters location. Koneck added on the time that the pliability of the area and the chance to design cutting-edge post-pandemic area to fulfill its wants had been additionally key elements within the firm inking the lease three years previous to occupying the constructing.
“We couldn’t be extra happy with our choice to relocate to this extraordinary workplace constructing, which fits the necessities we’ve got for our shoppers and our group to succeed,” says Koneck. “The prime location and distinctive facilities, coupled with KBS’ unmatched service, verify for us that 60 South Sixth is the perfect place for the Fredrikson group to name our new residence. As well as, the situation helps our continued dedication to the Metropolis of Minneapolis and its downtown.”
As a part of its dedication to top-quality asset administration, KBS’ lengthy monitor document of incorporating facilities that align effectively with the market, property and tenant base attracts in creditworthy tenants to property like 60 South Sixth, based on Giovanni (Gio) Cordoves, Western regional president for KBS.
“Within the present flight to high quality throughout the workplace sector, high-caliber tenants like Fredrikson & Byron, Greatest & Flanagan and Dacotah Financial institution, are looking for superior properties that elevate their groups’ working setting and encourage them to be part of their firms development,” says Cordoves. “60 South Sixth, with a number of facilities that promote sustainability, productiveness, and comfort, is among the many workplace buildings of selection for downtown Minneapolis workplace customers immediately.”
60 South Sixth is a LEED-EB Gold, BOMA 360-certified asset in Minneapolis, Minnesota, alongside the Nicollet Mall within the coronary heart of downtown Minneapolis. Tenant facilities on the property embrace, amongst many others, a complimentary health heart with a yoga room and bicycle storage, professionally managed full-service underground public parking with valet and auto spa, concierge providers, free Wi-Fi hotspots, tenant lounge with wine lockers and a pool desk, and a convention heart. Extra facilities embrace open lounge areas all through the property, two ranges of retail and eating institutions and three climate-controlled skyway connections. The constructing can be inside strolling distance of a farmer’s market, quite a few residential buildings, motels, quite a lot of retail and leisure choices, and is instantly adjoining to the fifth Road Gentle Rail Station.
“We acknowledged 60 South Sixth as a premier workplace property within the Minneapolis market once we moved to the constructing in 2015 and it has been an exquisite spot for us for eight years,” says Sarah Crippen, managing associate at Greatest & Flanagan. “We had been very happy to increase our lease for our rising agency and are grateful for KBS’s partnership in negotiating our lease extension.”
“It’s important that we offer a office that’s handy for our group to commute to in addition to entry quite a lot of eating, procuring and leisure choices throughout their workday,” feedback Todd Senger, Group Head – Company Banking for Dacotah Financial institution. “60 South Sixth meets these {qualifications} for us whereas delivering a wonderful tenant expertise. Increasing our lease at this property was the apparent selection, and KBS made that course of seamless.”
Brent Robertson, Andrea Leon and Jon Dahl of JLL represented KBS in Fredrikson & Byron’s lease transaction in addition to the Greatest & Flanagan and Dacotah Financial institution lease expansions. Mike Salmen, Larry Serota and Will McDonald of Transwestern represented Fredrikson& Byron, Brent Erikson of Newmark represented Greatest & Flanagan and Kevin O’Neill of Colliers represented Dacotah Financial institution within the transactions.
“Properties that supply tenants all of the options 60 South Sixth does within the downtown Minneapolis are troublesome to search out,” says Robertson. “The renovations KBS has accomplished and continues to implement at this workplace tower preserve it on the brief listing of most popular areas for workplace customers on this market.”
Please discover pictures of 60 South Sixth right here and discover pictures of Frederikson & Byron’s new area right here.
About KBSKBS is likely one of the largest traders of premier business actual property within the nation. As a personal fairness actual property firm and an SEC-registered funding adviser, KBS and its affiliated firms have accomplished transactional exercise of greater than $44.7 billion on behalf of personal and institutional traders globally. Based in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and operates prime business actual property in a few of the most profitable epicenters within the nation. The agency is dedicated in its enterprise ethics, its enterprise relationships, and its fixed deal with exceeding the expectations of its traders, companions, and tenants. SEC registration as an funding advisor doesn’t indicate any specific degree of ability or coaching. For extra data on KBS, please go to www.kbs.com.
About Fredrikson & Byron, P.A.Fredrikson & Byron is a number one Midwest regulation agency working collaboratively to assist companies obtain their objectives regionally, nationally and globally. With a fame because the agency “the place regulation and enterprise meet,” our attorneys carry enterprise acumen and entrepreneurial considering to work with shoppers and function as enterprise advisors and strategic companions in addition to authorized counselors. The agency’s 300+ attorneys are based mostly in Minneapolis, with places of work in Bismarck, Des Moines, Fargo, Mankato, St. Paul, Saltillo, Mexico, and Shanghai, China. Be taught extra at fredlaw.com on LinkedIn or @FredriksonLaw.
This launch might comprise forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, together with statements regarding KBS Actual Property Funding Belief III’s means to spend money on and handle a various portfolio, and the efficiency of 60 South Sixth and of the Minneapolis, Minnesota actual property market. These statements are topic to identified and unknown dangers, uncertainties and different elements which can trigger 60 South Sixth’s precise outcomes, efficiency, or achievements to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements.
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