Stinson Minneapolis Lease Restructure

Project Overview

NTH supported Stinson in evaluating how its Minneapolis office lease could better align with changing space utilization following the COVID-19 pandemic. Because the original lease included flexibility for future adjustments, NTH helped Stinson revisit its space needs and negotiate a modified contraction structure that more accurately reflected how the firm was using its workplace. The result was a practical lease solution that reduced occupancy costs while maintaining flexibility for the firm’s long-term needs.

The Challenge

The opportunity required coordination among several moving parts. Stinson needed to reduce its footprint in a way that aligned with actual space utilization, while the landlord was working to secure a new tenant for a portion of the contraction space. The timing, contingencies, and approvals needed to be managed together so the transaction could move forward without creating unnecessary risk for either party.

How We Made It Happen

NTH worked closely with Stinson’s internal team to clarify priorities, identify non-negotiables, and determine where flexibility existed. NTH then engaged the landlord to structure a solution that balanced Stinson’s occupancy goals with the landlord’s leasing objectives. By maintaining clear communication, managing dependencies, and coordinating the timing of the related transactions, NTH helped create a path that worked for both parties.

The Outcome

Stinson reduced its Minneapolis office footprint and lowered operating expenses while preserving a workplace that better reflected how the firm used its space. The landlord was also able to advance a new lease for the released space, creating a balanced outcome for both parties.

Location

Minneapolis, Minnesota

Project Scope

92,000 square feet

Project Type

Tenant Improvement

NTH Services

Strategic Planning

WHAT OUR CLIENTS SAY

As a real estate attorney and NTH client, I’ve consistently been impressed by NTH’s comprehensive and hands-on approach. They go well beyond what’s typical in brokerage services – strategic thinking, diplomatic approach, continued involvement through lease negotiation and drafting, and close collaboration with legal teams, truly sets NTH apart. It’s clear that NTH is committed to achieving the best possible outcomes for their clients, not just closing deals.

Todd M. Phelps, Partner, Stinson LLP

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