Finance & Commerce
January 9, 2020
By Matt Johnson
Florida-based Accesso signed more than 102,000 square feet in leases in the fourth quarter of 2019 for tenants in the two West End towers the company purchased in late 2018, according to a company press release.
Accesso paid $115.5 million for the two nine-story towers at 1550 and 1600 Utica Ave. S. in St. Louis Park and recently spend about $1 million renovating the lobbies and common areas, modernizing parking structures, boosting energy efficiency and starting up a tenant amenities program called Accesso Club.
One new lease signed for the property came when Colliers International decided to move its local headquarters into 25,000 square feet of space on the third floor of the 1600 Utica Ave. tower. The move will take place in May 2020. The company will move 140 employees from its current space in Minnetonka.
Additionally, MoneyGram International has extended its lease in the buildings. The towers also recently attracted Chanhassen-based Life Time to establish its first Twin Cities Life Time Work location in 28,000 square feet of space on the ninth floor of the 1600 building.
“We are very pleased with the success we’ve had on the leasing and capital improvement fronts at Towers of West End during our first year of ownership,” said Paul Gaines, an Accesso managing director, in a statement.