The regional law firm will occupy approximately nine floors at 60 South Sixth
MINNEAPOLIS–(BUSINESS WIRE)–KBS, one of the largest investors in premier commercial real estate in the nation, and leading Midwest law firm Fredrikson & Byron announced today that the firm has signed a lease agreement for approximately 178,000 square feet of space in RBC Plaza at 60 South Sixth, a Class A, 40-story, 710,332 square-foot office tower and retail complex in downtown Minneapolis, Minnesota. RBC Plaza at 60 South Sixth is owned by KBS REIT III.
“As an investor in best-in-class assets throughout the country, KBS recognizes the importance of providing office tenants with top-quality space in the epicenter of key markets,” says Dan Park, senior vice president for KBS and asset manager for RBC Plaza at 60 South Sixth. “This is an outstanding property within the Minneapolis market and offers tenants a host of exceptional amenities both inside and immediately adjacent to the building. Our ability to lease such a large amount of space three years in advance of the tenant being able to move in speaks to our ability as a hands-on asset manager and aligns well with our long-term investment strategy.”
“Part of the reason that our firm committed to this lease well in advance of the move-in date is the high quality of this property, its location, and the unique ability to acquire a block of Class-A space on Nicollet Mall for our future headquarters location. Also important is the flexibility of the space and the opportunity to design cutting edge post-pandemic space to meet our needs,” says John Koneck, president of Fredrikson & Byron. “We are excited about our new partnership with KBS and look forward to moving into this exceptional property, which we know will be an excellent space for our clients and the Fredrikson team.”
RBC Plaza at 60 South Sixth is a LEED-EB Gold, BOMA 360-certified asset in Minneapolis, Minnesota, along the Nicollet Mall in the heart of downtown Minneapolis. Tenant amenities at the property include, among many others, a complimentary fitness center with a yoga room and bicycle storage, professionally managed full-service underground public parking with valet and auto spa, concierge services, free Wi-Fi hotspots, tenant lounge with wine lockers and a pool table and a conference center. Additional amenities include an Italian marble and granite lobby, open lounge areas throughout the property, two levels of retail and dining establishments and three climate-controlled skyway connections. The building is also within walking distance of a farmer’s market, numerous residential buildings, hotels, a variety of retail and entertainment offerings and is immediately adjacent to the 5th Street Light Rail Station.
“KBS’ dedication to exceeding sustainability and management standards for this asset, in addition to its excellent amenities and location, have historically and continue to attract tenants of Fredrikson & Byron’s high caliber to RBC Plaza at 60 South Sixth,” says Giovanni (Gio) Cordoves, Western regional president for KBS. “Our completed and continuing renovations and amenity additions have and will serve to keep this asset’s standing as a magnet for office tenants seeking top-quality office space in the Minneapolis market. We couldn’t be more thrilled for Fredrikson & Byron to have partnered with us in what will be a long-term relationship between our firms.”
Brent Robertson, Andrea Leon and Jon Dahl of JLL represented KBS in the lease transaction, while Mike Salmen, Larry Serota and Will McDonald of Transwestern represented Fredrikson & Byron.
“As office tenant expectations have ramped up in an effort to recruit and retain top talent, KBS has and continues to lead the charge in downtown Minneapolis with this property,” says Robertson. “With its dynamic work/live/play location and best-in-class attributes, RBC Plaza at 60 South Sixth is on the short list of office buildings where well-respected companies seek space in this market.”
Please find photos of RBC Plaza at 60 South Sixth here.
KBS is one of the largest owners of premier commercial real estate in the nation. As a private equity real estate company and an SEC-registered investment adviser, KBS and its affiliated companies have completed transactional activity of more than $42 billion on behalf of private and institutional investors globally. Founded in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and operates prime commercial real estate in some of the most successful epicenters in the country. The firm is committed in its business ethics, its business relationships and its constant focus on exceeding the expectations of its investors, partners and tenants. Registration as an investment adviser does not imply any particular level of skill or training. For more information on KBS, please visit www.kbs.com.
About Fredrikson & Byron, P.A.
Fredrikson & Byron is a leading Midwest law firm working collaboratively to help businesses achieve their goals regionally, nationally and globally. With a reputation as the firm “where law and business meet,” our attorneys bring business acumen and entrepreneurial thinking to work with clients and operate as business advisors and strategic partners as well as legal counselors. The firm’s 300+ attorneys are based in Minneapolis, with offices in Bismarck, Des Moines, Fargo, Mankato, St. Paul, Saltillo, Mexico, and Shanghai, China. Learn more at fredlaw.com on LinkedIn or @FredriksonLaw.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including statements relating to KBS’ ability to invest in and manage a diverse portfolio, and the performance of RBC Plaza at 60 South Sixth and of the Minneapolis real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS’ and/or RBC Plaza at 60 South Six’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Lexi Astfalk or Jenn Quader
KBS Public Relations Manager
Investor Relations Contact:
KBS Associate VP – Investor Relations