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

cody.hundertmark@cushwake.com 

TOM SITZ

Co-Head of Midwest Investment Sales

Executive Managing Director

+1 312 338 7866

tom.sitz@cushwake.com 

AVERY TICER JD, CFA

Executive Director

+1 952 893 7592

avery.ticer@cushwake.com 

DAVID MELINE

Vice Chair

+1 404 853 5380

david.meline@cushwake.com

ADAM HOFFMAN

Director

+1 952 465 3384

adam.c.hoffman@cushwake.com

DAN PHOEL

Senior Financial Analyst

+1 952 465 3323

dan.phoel@cushwake.com