MINNEAPOLIS (July 13, 2014) — Cushman & Wakefield announced today that the multi-million dollar renovations to the prestigious RBC Plaza at Nicollet Mall and 6th Street downtown Minneapolis are complete. The nearly year and a half transformation of the 709,690 sq. ft. Class A office and retail location created a unified space involving, among many features, the conversion of former four-story retail and food court space on the 3rd and 4th floors of the 555 Nicollet Mall to a vibrant two-story atrium within the premiere 40-story office tower at 60 S. 6th Street. RBC Plaza is owned by KBS and operated by KBS Capital Advisors.
Renovation highlights and new features include:
Two levels of retail stores and cafés including D’Amico & Sons, Sprout Salad Company, Caribou Coffee, The Fresh Market, Affinity Federal Credit Union and Joern Samaha & Associates.
New tenant amenities such as a state-of-the-art conference center, fitness center with locker rooms at no additional charge to tenants, full-service valet and car wash, bike storage area, collaborative meeting areas on the lower level and main lobby.
A prominent entry from Nicollet Mall including an exterior glass canopy and building identification.
The merging of the former first floor of 555 Nicollet Mall with the RBC Plaza tower, made possible through the removal and reconfiguration of the wall separating the two structures.
A new 31,595 sq. ft. office space opportunity on the 3rd floor featuring 15-16 ft. ceilings and newly added large windows; the only loft-like space overlooking Nicollet Mall in the CBD
The new 30,000 sq. ft. converted 4th floor Class A office space is occupied by 21-year RBC Plaza tenant Boston-based global intellectual property and litigation law firm Fish & Richardson. The law firm’s 150-person Administrative Hub recently relocated here and is staffed by human resources, information technology, finance and other back-office function professionals. Fish & Richardson also occupies 50,000 sq. ft. of office space in the RBC Plaza tower at 60. S. 6th Street.
A new visual identity that reflects the building’s architectural features, along with new and a new property video to be released at tenant event in July
In addition, RBC Plaza offers tenant concierge services such as an on-site shoe shine, on-site chair massage, notary service and dry cleaning delivery along with its three-level underground professionally-managed valet public parking facility. The building is also LEED EB Gold and ENERGY STAR certified.
The completed renovations signal RBC Plaza’s commitment to provide a vibrant live/work/play environment for employers who want to attract the best and brightest talent. The location, on the rapidly transforming Nicollet Mall, is adjacent to premium residences, retail, restaurants, light rail and bike routes and connected to other downtown properties through three climate-controlled skyway connections.
CW’s Senior Director-Brokerage Services Mark Stevens, who represents the building, says that completion of the renovations of RBC Plaza marks a new beginning for this landmark office and retail space. “Since its inception in 1991, RBC Plaza has been a signature office tower in the central business district of Minneapolis. It’s location on Nicollet Mall and connections to the skyways have always been an attraction for employers and their staffs. Now, with access to light rail only steps away and even greater services and amenities, our tenants appreciate the building’s new beginning on Nicollet Mall. It really does represent the way tomorrow works.” Joining Stevens in representing KBS are CW’s Brent Erickson, Peter Fitzgerald and Kim Meyer.
“The transformation has been dramatic and we are thrilled with tenant feedback,” said Giovanni Cordoves, senior vice president, for KBS. “It has brought the building into the 21st century.”
In addition to the Fish & Richardson recent move, the following new leases or moves are occurring:
During May 2015, Affinity Federal Credit Union cooperative secured 2,000 sq. ft. of space on the second floor of the 555 Nicollet Mall building for a branch location.
On July 27, law firm Best & Flanagan, LLP will relocate its 100 employees from its current location in the Capella Tower at 225 South Sixth Street to 28,000 sq. ft. on the 26th and 27th floors of the RBC Plaza tower. CW brokers Brent Erickson and Dan Wicker represented Best & Flanagan in the transaction.
Stevens also noted that there will be private tenant event in July to celebrate the renovations at RBC Plaza with Minneapolis Downtown Council member Steve Cramer and KBS’s Cordoves as the featured speakers.
RJM Construction led the construction project with Shea Design, under the direction of Tanya Spaulding, serving as the project architect.
For more information on the property, visit rbcplazaminneapolis.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
KBS Capital Advisors is KBS REIT III’s external adviser and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment advisor founded in 1992. Since its inception, KBS has completed transactional activity exceeding $30.0 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs. For more information, visit www.kbs.com.