Transwestern Provides Office Leasing Services for 344,000 SF Development
March 31, 2020
Minneapolis – Transwestern Real Estate Services (TRE) announces CarVal Investors has signed a long-term, 35,000-square-foot lease at 10 West End, a 344,000-square-foot development at the intersection of Highways 394 and 100 in St. Louis Park, Minnesota. The investment management firm will relocate its headquarters from its current Excelsior Boulevard location to 10 West End upon construction completion, which is projected for first quarter 2021. Transwestern Principal Mike Honsa is providing office leasing services for the building.
10 West End is an 11-story, Class A office building being developed by Ryan Companies US, Inc. and The Excelsior Group. The building will feature high-tech conference space, dynamic bike and fitness facilities, collaborative lobby workspaces, open air balconies on every floor, tenant sky lounge and deck, direct access to Central Park West and free covered ramp parking. 10 West End broke ground October 2019 and is the first Class A speculative office building constructed in the West submarket in more than 20 years.
“The activity in the West End area, and specifically at 10 West End, has been solid,” said Honsa. “We continue to see a high level of interest from a variety of tenants and industries. The West End neighborhood is one of the most coveted locations in the Twin Cities, and 10 West End is raising the bar on quality.”
CarVal specializes in distressed and credit-intensive assets. As the first tenant to sign a lease at 10 West End, CarVal will occupy an entire floor of the building.
“CarVal is the ideal tenant for our project,” said Tony Barranco, Senior Vice President of Real Estate Development at Ryan Companies. “We’re excited that CarVal has chosen 10 West End for its headquarters location and know other first-class companies will soon follow.”
Chris Culp, CEO of The Excelsior Group, added, “CarVal’s decision to move to 10 West End validates our business plan and further validates the West End district as Twin Cities’ premium office location. We have been active in the West End district for nearly 10 years and we are thrilled that others continue to recognize the fantastic attributes of the area.”
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRE) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
About Ryan Companies
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan market depth includes retail, industrial, healthcare and senior living. Ryan development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing and mission critical facilities. Ryan has nearly 1,500 employees in 15 offices and has completed projects in 39 states. For more information, visit ryancompanies.com.
About The Excelsior Group
The Excelsior Group (TEG) is a full-service Minneapolis-based real estate firm offering boutique-level services in the fields of development, investment, property and asset management, real estate tenant and occupier advisory, branding and marketing, and homebuilder lending. Please visit ExcelsiorLLC.com, for more information.
About CarVal Investors
CarVal Investors is a leading global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal’s experienced team has navigated through ever-changing credit market cycles, opportunistically investing $119 billion in 5,400 transactions across 80 countries. Today, CarVal Investors has approximately $10 billion in assets under management in in corporate securities, loan portfolios, structured credit and hard assets. www.carvalinvestors.com