NorthMarq Announces Three New Leases at Normandale Lake Office Park
MINNEAPOLIS (March 4, 2010) — NorthMarq today announces three leases
totaling 145,000 sq. ft. at Normandale Lake Office Park in Bloomington
with Rasmussen, Inc., PLATO Learning and Towers Watson. These latest
transactions add two new tenants and a long-term lease extension at the
1.7 million sq. ft. park that is home to nearly 90 companies.
NorthMarq Senior Vice President
Tom Tracy represented owner TIAA-CREF in the transactions. "The
office market remains extremely challenging with very few transactions
being completed," said Tracy. "However, our recent leasing success is a
clear indication that leading companies continue to see Normandale Lake
Office Park as a premier office location."
Rasmussen Inc. to occupy two floors of 8300 Tower
NorthMarq has secured a lease with Rasmussen, Inc. for 48,042 sq. ft. on
the 3rd and 4th floors of the 8300 Tower. This space will be ready for
summer 2010 and accommodate the growing company’s headquarters and
online education division. Rasmussen, Inc. was represented by John
Ferlita of CB Richard Ellis.
PLATO Learning signs lease in newest office park tower
PLATO Learning has signed a long-term lease for 27,483 sq. ft. in the
new 8200 Tower, recently certified LEED Gold and the fifth building at
Normandale Lake Office Park. The company will relocate from its current
space in West Bloomington Technology Park in July. PLATO Learning was
represented by Mike Salmen and Mike Honsa of Transwestern.
NorthMarq extends lease with Towers Watson
Towers Watson, a global professional services company formed by the
recent merger of Watson Wyatt and Towers Perrin, has signed a long-term
lease extension for 69,334 sq. ft. in the 8400 Tower at Normandale Lake
Office Park. Watson Wyatt has been a tenant of the park since 1987, and
Towers Perrin, a former 23-year tenant, will be returning to the park.
Towers Watson was represented by Mike Christian of UGL Equis’
Washington, D.C., office.
About NorthMarq
NorthMarq offers a full range of commercial real estate
solutions from its headquarters in Minneapolis, Minn. NorthMarq Real
Estate Services provides brokerage, property management, tenant
representation and healthcare advisory services to investors and space
users in the Minneapolis/St. Paul market. NorthMarq Corporate Solutions
works nationally with mid-sized corporate users to manage their real
estate needs. The NorthMarq Capital group offers commercial real estate
investment banking, investment services, real estate debt and equity
financing, and commercial loan servicing in 30 offices coast-to-coast,
with an average of $10 billion in annual production volume and services
a loan portfolio of more than $37 billion. For more information, please
visit www.northmarq.com.
About TIAA-CREF Global Real Estate
TIAA-CREF is one of the largest institutional real estate investors in
the United States, with an approximately $53 billion global portfolio of
direct and indirect investments (12/31/09). TIAA-CREF originated its
first commercial mortgage in 1934 and began direct investment in
commercial real estate in 1947. Today, on behalf of individuals, public
and private institutions in the U.S. and abroad, TIAA-CREF Global Real
Estate directly owns approximately $14 billion (12/31/09) of primarily
high-quality properties in the office, retail, industrial and
multifamily sectors across the U.S., Canada and Western Europe.
TIAA-CREF is a national financial services organization and the leading
provider of retirement services in the academic, research, medical and
cultural fields with $414 billion in combined assets under management
(12/31/09).
TIAA-CREF Individual & Institutional Services, LLC, and Teachers
Personal Investors Services, Inc., members FINRA, distribute securities
products.
© 2010 Teachers Insurance and Annuity Association-College Retirement
Equities Fund, New York, NY 10017
C47175
Contact:
Martha Nevanen
952.893.7539
martha.nevanen@marquettere.com
Gwen Chynoweth
Maccabee Group
612.337.0087