MINNEAPOLIS – Transwestern Real Estate Services (TRS) announces it has facilitated a new, 20-year office lease at 921 Washington Ave. S. The tenant, the McKnight Foundation, will occupy the full 50,000-square-foot property. Building owner SFT Holdings, LLC was represented by Transwestern Managing Principal Mike Salmen, Senior Vice President Eric Rapp, and Principal Reed Christianson.
The McKnight Foundation, whose mission is to create a more just, creative, and abundant future where people and planet thrive, previously occupied 38,577 square feet at 710 S. Second St. After 20 years at the location, the nonprofit found it necessary to expand its offices. The Foundation’s lease will commence February 2025.
“The McKnight Foundation is a vital organization and will energize both the area and the building,” said Salmen. “Keeping an institution like this in downtown Minneapolis is a big win for the city, and we are very pleased they have made a long-term commitment at the property.”
The building will undergo significant renovations to modernize the space and meet the climate and energy goals of the foundation. Updates will include a state-of-the-art HVAC system that will reduce onsite energy use while offsetting demand on the electrical grid, as well as electric vehicle charging stations. Exposed ceilings with abundant natural light, a private parking lot and amenities such as a coffee bar and café aim to elevate the tenant experience. Additionally, easy access to the highway system, bike paths and public transportation, and the downtown east area added to the property’s appeal.
“The McKnight Foundation was looking for a space that could support its mission and cater to the community as a whole,” said Nick Simpson, Manager at SFT Holdings. “The renovations will ensure the building is welcoming for guests, fosters collaboration, and advances the Foundation’s climate and clean energy goals. We’re thrilled that the property will live up to these needs and provide a space for the Foundation to grow.”
Julie Kimble of KimbleCo represented the tenant in lease negotiations.
Image courtesy of the McKnight Foundation available for download here.
About the McKnight Foundation
The McKnight Foundation, a Minnesota-based family foundation, advances a more just, creative, and abundant future where people and planet thrive. Established in 1953, the McKnight Foundation is deeply committed to advancing climate solutions in the Midwest; building an equitable and inclusive Minnesota; and supporting the arts and culture in Minnesota, neuroscience, and global food systems. To learn more, please visit mcknight.org.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Five dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern
Media Contact:
Mallory Martin
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mallory.martin@transwestern.com
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