EDINA, Minn.--(BUSINESS WIRE)--As companies welcome workers back to the office, a recently transformed office building in Edina illustrates that urban-inspired, modern design with first-class amenities can draw tenants to a conveniently located suburb. In late 2021, developer City Center Realty Partners, LLC (CCRP) completed a full-scale renovation of the 9-story 7201 Metro Boulevard building, the largest of its three-building complex The E located off Highway 100. CCRP owns the 11-acre campus in a joint venture with Contrarian Capital Management. HGA’s Minneapolis office led the design.
Brokerage firm Newmark signed the first new tenants to the freshly remodeled building in April. Specialty finance company Mitsubishi HC Capital America, which was represented by David Buyse with Corporate Tenant Advisors, will occupy 17,641 square feet. Relievant Medsystems, a medical device company which was represented by Andrew Commers with Newmark, will occupy 12,754 square feet of the 107,000 square foot building.
“There are so many reasons why our team will be motivated and productive at The E. We love the collaborative spaces, creative design, 360-degree views, the shared e-bike fleet, convenient location, and the fully equipped fitness center with lockers and showers,” said Jim Teal, President and COO at Mitsubishi HC Capital America, Vendor Services. “Moreover, we were impressed with City Center’s personal touch, and how welcomed they made us feel. We are excited to be one of the first tenants, and look forward to working in such an inspiring and modern space.”
The vision for The E’s renovation seeks to accommodate work behaviors for a broad range of a tenant’s employees. The building’s hospitality-style shared amenities provide numerous opportunities for alternate workspaces and break areas, including a WiFi lounge, training and conference rooms, a fitness center and patio bar. In addition to The E’s high-quality aesthetic, unique elements such as murals by local artists, a chef-prepared meal program from The Wandering Kitchen and a fleet of shared electric bikes lend a modern, boutique office experience to the building.
“After several years of tremendous growth, we needed to find a new facility to serve as our corporate office," noted Chris Geyen, CFO with Relievant Medsystems. "It was essential to find a location that would provide an exceptional environment for our employees to work and collaborate with options to expand as Relievant grows. The E meets all those needs for us.”
“We are pleased to welcome these two leading companies to The E,” said Eric Anderson, CCRP Executive Vice President. “Having begun this renovation in the middle of the pandemic, we had the opportunity to re-imagine the future of workplace design. We aimed for a cool, purpose-driven and healthful environment that fosters team morale and, overall, brings a sense of unity to the office. We couldn't be happier with the result.”
CCRP’s strategy also aimed for flexibility, offering space for any size tenant, from large blocks on nine contiguous floors to small, single-tenant suites.
"We’re seeing increased momentum and interest from companies looking for brand new spaces, a fresh design at a competitive price point that also can serve a broad range of employees," noted Brent Erickson, Senior Managing Director at Newmark, which manages leasing for the property.
CCRP has long focused on bringing a design-forward aesthetic to their portfolio of commercial buildings. The development firm’s repositioning of the historic TractorWorks building in Minneapolis was a pioneering project as the North Loop district transformed from a manufacturing hub into one of the city’s most popular destination neighborhoods. Based in San Francisco, CCRP is also leading the development of 1.5 million square feet of several life science assets in the Bay Area, a hotbed for the biotech industry.
About City Center Realty Partners
City Center Realty Partners, LLC is a San Francisco-based real estate investment firm, specializing in integrated development and redevelopment for an evolving world. Nationwide, CCRP has developed and acquired more than $2 billion of life science, retail, office and mixed-use properties. For more information visit their website here.
About Contrarian Capital Management
Contrarian Capital Management (“CCM”) is an institutional investment manager formed in 1995. Its real estate strategy strives to achieve attractive risk-adjusted returns with real estate equity and debt investment opportunities spanning all U.S. property sectors. The real estate team looks to pursue mid-sized distressed and opportunistic opportunities generally overlooked by larger institutional investors. Contrarian’s ability to underwrite diligence and close transactions quickly, combined with a strong industry reputation for integrity, makes the firm a preferred counterparty for sellers and joint venture partners that require certainty of execution. For more information visit www.contrariancapital.com.