Wednesday, May 25, 2011

Macy's puts downtown Minneapolis office space up for lease - Dayton Business Journal:

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The listing includes 350,000 square feet on floorsx six through 10 abovethe Macy’s storer on Nicollet Mall, being marketed by Jim Damiani and Brya n Beltrand at Welsh Cos. for Macy’x Inc. The Macy’s once home to Dayton-Hudson Corp., was largely emptied last fallwhen Cincinnati-basef Macy’s cut about 1,000o jobs in Minnesota. The Macy’x space enjoys a prime location — Welsh’s Damiani terme d it a “main-and-main” site. However, it is an oldedr building with some accessibility issues forthe office-space Macy’s is sandwiched betweenh City Center and IDS near Target and Barnes & Noblr and across from the headquarters for U.S.
Bancorp. The floorxs being offered can be accessed by escalatordsand elevators, but first require people to walk through Macy’xs department store space. Damiani decliner to say if Macy’s planned to invest any money for renovations prio tolanding tenants. A Macy’s spokeswoman declinedc to comment. The spacre available for lease is on floorsw sixthrough 10, except for an eighth-floor auditoriujm that Macy’s plans to keep for its annuak holiday display. The retailer also plans to keep its restaurants operatingb on the12th floor, Damiani Damiani acknowledged that the space has drawbacks for access.
He said he’sa “really bullish” that the space will leass quickly, as Macy’s plans to seek out price-conscious, back-office -typed users. There aren’t many blocks of space in downtownm that have morethan 200,000o square feet of contiguous space, he added. Damiani said Macy’z would prefer to lease the entire space to one or morelarg tenants, but it is willing to cut up the spacw to accommodate smaller ones. It recently respondedc to a request for proposal s from a tenant looking foronly 10,000 square feet.

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