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| Northland Center is located at 3600 American Boulevard West in Bloomington, MN near the intersection of I-494 and France Avenue |
BLOOMINGTON,
MN – KBS, one of the largest
investors in premier commercial real estate in the nation, has announced that Avtex,
a full-service customer experience consulting firm, has renewed the lease of
their headquarters at Northland Center, a
Class A, Wired-Certified, LEED EBOM Silver-Certified office park in the
Minneapolis-St. Paul-Bloomington, MN-WI MSA, which is part of one of KBS’
client portfolios.
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| Rodney (Rob) Richerson |
According
to Western Regional President at KBS, Rod Richerson, the transaction
demonstrates that companies are continuing to renew leases, despite the current
environment.
“There
has been a lot of discussion as to whether or not companies will continue to
lease space as a result of COVID-19 and shift to remote working models,” says
Richerson.
“This
is not something we are seeing across our portfolio. In fact, we are continuing
to see companies renew and sign new leases at several of our assets across our
portfolio of more than 23 million square feet.”
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| Giovanni Cordoves |
“There
may be a small percentage of tenants who shift to remote working models, but
for the most part, we anticipate that a large percentage of companies will
return to their offices once the pandamic is over,” explains Giovanni
Cordoves, asset manager for Northland Center, co-director and senior vice
president at KBS.
“In
fact, we anticpate that while some companies will incorporate remote working
models, a significant amount of companies wil require more space as they return
back to their offices and account for social distancing.
"Companies
may also require more space as they consider the emotional and behavioral
aspects to ensure employees feel safe in their space moving forward. Avtex’s
lease renewal is a prime example of companies planning to return to their
office space.”
Northland
Center is a two-building, 492,514 square-foot property that is located in close
promixity to the I-494 and France Avenue corridor, which provides easy access
to a plethora of restaurant, retail and entertainment amenities, as well as
close access to the Minneapolis-Saint Paul International Airport.
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| Bill Rothstein |
The
first asset to become Wired Certified in Bloomington, the office park also
features a myriad of modern amenities.
“Northland
Center is a strong value alternative for many Class A office properties in the
area and features a variety of in-demand amenities,” explains Cordoves.
“The office complex has efficient rectangular
floor plates, as well as an experienctial environment that contributes to the
future development of company culture, personannel development and shared
success.”
Cushman
& Wakefield’s Bill Rothstein provides leasing services for Northland
Center.
“Avtex
has been a valued tenant at Northland Center since 2010, and we are so pleased
that the firm has renewed,” says Rothstein.
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| Chuck Schreiber |
“The
property is a true gem in Bloomington, offering a market leading amenity
package and first-in-class experience for tenants and their employees.
"KBS
continues to deliver what companies want and need in this region, which is why
Avtex remains loyal at this property.”
About
KBS
KBS is one of the largest owners
of premier commercial real estate in the nation. As a private equity
real estate company and an SEC-registered investment adviser, KBS and its
affiliated companies have completed transactional activity of approximately $42
billion on behalf of private and institutional investors globally.
Founded
in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and
operates prime commercial real estate in some of the most
successful epicenters in the country.
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| Peter Bren |
The
firm is committed in its business ethics, its business relationships
and its constant focus on exceeding the expectations of our investors, partners
and tenants.
SEC registration as an investment advisor does not imply any particular level of skill or training.
SEC registration as an investment advisor does not imply any particular level of skill or training.
CONTACT:
Micaela Fehrenbach