WELLS FARGO SIGNS A 477,800 SF LEASE AT METROPOINT IN ST. LOUIS PARK, MN
Minneapolis, MN – October 30, 2012 - BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced today that Wells Fargo Bank, N.A. has signed a long-term lease for 477,800 square foot office lease at Metropoint, The Center for Business, located in suburban Minneapolis, Minnesota. The lease transaction included the extension on 147,812 square feet of existing space and an expansion of 329,220 square feet of new office space. Wells Fargo will now occupy office space in all four buildings of the 918,000 square foot office complex, bringing occupancy to 90 percent.
”Wells Fargo’s continued expansion within Metropoint affirms our commitment to providing our clients with a well located quality office environment with first class amenities. We are pleased to continue and expand our relationship with Wells Fargo,” commented Kelly Gibbel, vice president of BPG, who is responsible for asset management of the property and handled negotiations on behalf of the landlord.
Wells Fargo was represented in lease negotiations by Steve Stratton, Bill Rogers, Tad Jellison, John Lorence, Chris Rohrer and Brian Ginkel of Jones Lang LaSalle Americas, Inc. The landlord was represented by Senior Director Gordie Hampson and Director Jason Butterfield of Cushman & Wakefield NorthMarq, the project’s exclusive leasing agents.
Since its acquisition in 2006 by an affiliate of BPG, the complex has undergone an extensive capital improvements program, consisting of building and common area improvements. The on-site services and amenities were upgraded and improved to include an open park area, a fully equipped conference center, state-of-the-art fitness facilities, abundant garage parking and a full service cafeteria with indoor and outdoor dining options.
About BPG Properties, Ltd.
BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. BPG’s portfolio consists of over 24 million square feet of office, retail, student housing, and industrial properties and more than 18,000 apartment units in over 70 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company’s website at www.bpgltd.com.
For additional information on BPG Properties, Ltd., please contact:
Joseph G. Nahas, Jr., Vice President, 215-575-2363
For additional information on the property, please contact:
Kelly Gibbel, Vice President, 312-235-5998