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U.S. Bank
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Lease negotiations, project management, disposition
of space
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325,000 square feet of light industrial space
transformed to office space
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Project named a "Finalist" in
the "Redevelopment" category for creative re-use
of space in the "CityBusiness Best in Real Estate 1998"
competition.
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U.S.
Banks success reflects its ongoing efforts to achieve operating
efficiencies. To support those efforts, the company asked Nelson,
Tietz & Hoye to help identify and secure centrally located space
that could provide a productive, efficient and attractive work environment
at a competitive cost.
Nelson, Tietz & Hoye knew of proposed renovation for the old
Unisys building now renamed U.S. Bank RiverBank Business Center
- which was the "big box" type of building that U.S. Bank
wanted. In addition to the building's convenient location, it could
be converted to offer attractive employee amenities: easy access,
ample free parking and a full-service cafeteria.
U.S. Bank officials envisioned the potential of the space, in particular
the operating efficiencies possible by bringing several work teams
together under one roof. U.S. Bank, however, wouldn't commit to
the move without simultaneously terminating a large portion of its
space leased at U.S. Bank Place in downtown Minneapolis. Nelson,
Tietz & Hoye identified a replacement tenant who agreed that
U.S. Bank's space was just what it needed.
"Timing the transactions and eventual moves to accommodate
both parties was a challenge," says Tina Hoye, Nelson, Tietz
& Hoye. "It was a bit like landing two jumbo jets simultaneously."
The bottom line: U.S. Bank officials and employees are pleased
with the results. The renovation enabled the organization to bring
key work groups together in a flexible, efficient and attractive
space. The team approach of Nelson, Tietz & Hoye and U.S. Banks
staff made this key Twin Cities facility a reality.
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