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U.S. Bank

Lease negotiations, project management, disposition of space

325,000 square feet of light industrial space transformed to office space

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. Bank’s 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. Bank’s staff made this key Twin Cities facility a reality.


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