Investment Summary
Cushman & Wakefield’s Office Investment Advisory (OIA) Group is pleased to present West End Office Park Center and Plaza (“WEOP”), a 433,126 square foot, Class A, dynamic office ecosystem at the coveted West End in suburban Minneapolis, Minnesota. The offering consists of West End Center (206,644 SF) and West End Plaza (226,482 SF), which total 433,126 square feet and are collectively 91% leased with attractive 4.1 year weighted average lease term (“WALT”) with in-place rents averaging 11% below market.
The West End is the ultimate live/work/play destination in the Twin Cities and considered the most vibrant micro-market in the entire Midwest, given its incredible location, luxury multi-family development, proximity to affluent residential neighborhoods, and premier position along the I-394 corridor. The West End is experiencing phenomenal migration as over 700,000 square feet of new tenancy has relocated to the West End over the past five years. West End Center and Plaza are part of the larger West End Office Park located in the heart of the West End neighborhood, which also includes West End Three and Four available as part of a separate offering. The park can be acquired as a whole or split in two separate transactions.
Investment Highlights
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STABILITY & SECURITY WITH CLASS A TROPHY OFFICE PARK
PROMINENT LOCATION WITHIN TOP PERFORMING MICRO-MARKET
MARKET LEADING WEST END FUNDAMENTALS
DIVERSE RENT ROLL WITH HIGH GROWTH SECTORS
ATTRACTIVE WALT WITH NEAR-TERM UPSIDE OF PROVEN RENT GROWTH
DISCOUNT TO NEW CONSTRUCTION RENTS & ADVANTAGEOUS BASIS
Property Summary
Year Built / Renovated
1968-1980 / 2019
Stories
12 Total - 7 & 5 respectively
Net Rentable Area
433,126 SF
Avg. Floor Plate Size
36,094 SF
Occupancy
90.9%
# of Tenants
41
Avg. Tenant Size
9,778 SF
Weighted Avg. Remaining Lease Term
4.1 Years
Photo Gallery
Investment Contacts
CODY HUNDERTMARK
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7865
TOM SITZ
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7866
DAVID MELINE