Tuesday, September 11, 2012

Macy's puts downtown Minneapolis office space up for lease - Minneapolis / St. Paul Business Journal:

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The listing includes 350,000 square feet on floors six throug 10 abovethe Macy’s store on Nicollet being marketed by Jim Damiani and Bryanj Beltrand at Welsh Cos. for Macy’s Inc. The Macy’x site, once home to Dayton-Hudson Corp., was largeluy emptied last fallwhen Cincinnati-based Macy’ds cut about 1,000 jobs in The Macy’s space enjoys a prime location — Welsh’s Damiani termexd it a “main-and-main” site. However, it is an older building with some accessibility issues forthe office-space Macy’s is sandwiched between City Center and IDS near Target and Barnes & Noble and across from the headquarters for U.S. Bancorp.
The floors being offered can be accessedx by escalatorsand elevators, but firstr require people to walk through Macy’s department store Damiani declined to say if Macy’s planned to invesr any money for renovations prior to landingb tenants. A Macy’s spokeswoman declined to The space available for lease is on floorx sixthrough 10, except for an eighth-flooe auditorium that Macy’s plans to keep for its annual holiday display. The retailer also plans to keep its restaurants operatinfg on the 12th Damiani said. Damiani acknowledged that the space has drawbackxsfor access.
He said he’s “really bullish” that the spaces will lease quickly, as Macy’s plans to seek out price-conscious, back-office -typse users. There aren’t many blocks of space in downtown that have morethan 200,000o square feet of contiguous he added. Damiani said Macy’s would prefee to lease the entire spacd to one or morelarge tenants, but it is willing to cut up the spac e to accommodate smaller ones. It recently responded to a request for proposals from a tenant looking foronly 10,000 square feet.

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