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Case Study

Olson & Co.

Situation
Olson & Co had grown to 65,000 RSF in very small blocks at their unique office space off of Loring Park on the fringe of Downtown Minneapolis. Although the renovated space helped them create a unique culture, there was inconvenient parking,expensive self-funded renovations, and inconsistent temperatures in four interconnected buildings. In the next phase of Olson’s growth the 65,000 RSF wasn’t going to be enough and the quirky positive aspects of the former facility had become difficult and a change was needed.
 
Solution
Our mission was to help Olson’s management team find alternative locations that would not only give them the space they required at a very efficient cost but also an environment that would allow them to continue to retain and attract the very best clients and talent. After an exhaustive search of options in and near Downtown Minneapolis, The Ford Centre, near Target Field, was selected as the option that gave them the best combination of unique space and efficiency with the lowest potential risks over the next fifteen years.
 
Results
Jones Lang LaSalle coordinated a team including architects, project
managers, & contractors to help assist Olson in securing a long-term home for their growing firm. An aggressive rate, a significant tenant improvement allowance, a deep set of landlord funded base building improvements, and the flexibility to expand or contract during the term allowed Olson to feel comfortable committing to the space for the next fifteen years. Unique elements of the lease include exclusive use of a landlord funded rooftop deck overlooking Target Field, termination options minimizing risks of environmental conditions as well as acceptance of all renovation plans by the National Park Board,& use of the bulding owners
suite at Target Field.

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