Services Provided:

Brokerage

Industries:

Office, Retail

Location

Burnsville, MN

Size

33,000 SF

Broker:

Steve Shepherd

Project Summary

 

Challenge
Grande Market Square, a three-story 33,000 RSF Class A office building was 35% leased when the owner hired the Colliers team to lease up the property and dispose of it on a quick value-add basis.

Results
Within months, Colliers had the building leased to 65% with several engaged prospects negotiating to lease the entire 2nd floor. When the owner ultimately decided against leasing the second floor and holding the building for a longer term, Colliers was tasked with a quick disposal of the asset. Within a matter of weeks, Colliers identified a local value-add buyer willing to invest the funds necessary to re-lease the second floor and close without contingencies at a price significantly higher than other offers received.