Expect a good year for Minneapolis’ signature office tower

ids center newby Dan Rafter

Jon Dahl doesn’t hesitate when asked what makes the IDS Center officer tower in downtown Minneapolis so special: “It’s the most iconic centerpiece of downtown,” he said. “It’s always been the skyline-defining building of Minneapolis.”

That’s why Dahl, senior vice president of JLL Minneapolis, so enjoys his work leasing office space in this key building.

“The IDS center is the center of the universe,” Dahl said. “Everything starts at the IDS Center and goes out from there.”

The IDS Center is busy today, too. Accesso Partners, LLC of Hallandale Beach, Fla., purchased the building in April of 2013. Since that time, JLL has worked steadily to fill the 57-story, 1.4-million-square-foot building’s office space.

These efforts have been successful. Since Accesso’s acquisition, 55 tenants have leased more than 424,000 square feet. In the fourth quarter of 2014 alone, tenants renewed leases covering 76,800 square feet.

Newcomers to the office portion of the building include Lazard Middle Market, which moved its headquarters into 23,300 square feet, a move that fills the entire 27th floor of the tower. Also last year, USB signed a 30,000-square-foot lease and moved more than 100 employees from Minneapolis’ Bancorp Center to the 29th and 30th floors of the IDS Center.

The Crystal Court

Dahl says that the building’s location is a big draw, as is its recognizable name.

The IDS Center's Crystal Court

The IDS Center’s Crystal Court

Then there’s the Crystal Court, the retail component of the tower. Dahl says that the retail center is almost like a public park for downtown Minneapolis, albeit an interior one.

“It’s a congregating point for businesses and people,” Dahl said. “It’s also a must-see destination when you come to Minneapolis.”

In fact, Dahl says that there really are no unusual challenges involved in leasing space at the IDS Center, expect for the large volume of tenants that do business from the building. Dahl says that the IDS Center holds 130 office tenants. This means that there are always spaces rolling.

“It’s management’s job to keep all the new and existing tenants happy,” Dahl said.

Dahl also had plenty of praise for Accesso Partners, saying that the company has pumped a significant amount of money into the building since purchasing it in 2013. Much of the money has gone to improvements that the public doesn’t see – new rooftop HVAC units, new roofs, improved windows.

But Accesso has spent on two highly visible projects at the building: The IDS Center will debut a new fitness center and conference center this month.

Dahl said that the conference center will be an especially important space for smaller tenants who don’t necessarily want to build out a larger meeting space on their own. Maybe these tenants need a conference room once or twice a month. With the IDS Center’s new conference room, they can reserve that space for these rarer meetings.

The fitness center will be a draw, too. Tenants will be able to offer the fitness room to their employees. This makes the IDS Center more appealing to office users, as it provides companies with one more amenity.

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This entry was posted in Minneapolis commercial real estate, Minnesota real estate, office, retail and tagged , , , , , , . Bookmark the permalink.

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