New skyline addition paves the future of office leasing and development in Minneapolis
How JLL supported United Properties in leasing premium space in new downtown property, RBC Gateway
547,024 SF office, 1.2M SF total
16 office, 37 total
RBC Wealth Management, Pohlad Companies, JLL, Castlelake, Hyde Development, Northwest Equity Partners
“What makes JLL the most unique is the way they collaborate with the client. You’re not just getting exposure to your listing agent; you’re talking to the capital markets group; you get access to their tenant rep brokers, which is really important because you’re going to hear from the tenant side of the business. We brought them on as a property manager to consult on the hotel and office buildouts and costs and reviewing contract matters, and they were invaluable on that.”
RBC Gateway is a breathtaking 37-story mixed-use high rise building in Minneapolis located at the convergence of the three most prominent streets: Hennepin, Nicollet, and Washington Avenues. Situated on the historically famous Nicollet Hotel site in Minneapolis’ Gateway District, it is the first Class A office building constructed in Minneapolis since 2001. JLL was tasked with marketing, positioning, and leasing the office space for the new construction property.
An innovative leasing experience
With visual storytelling, JLL leveraged our internal marketing resources to show the vision to potential future RBC Gateway companies during the construction phase. Through these efforts, potential tenants were able to realize the forthcoming iconic building that United Properties planned RBC Gateway to be. In partnership with United Properties and McGough, JLL guided hard hat tours with several active tenants in the market and shared the building’s story and vision through interactive leasing presentations. The building also featured several impressive amenities, which created excitement and demand while the property was under construction.
Notable Tenant Amenities and Building Features Include:
- Four Seasons Hotel – Minneapolis’ first 5-star luxury hotel
- 17,000 SF public plaza with green space
- Expansive street-level full-service restaurant
- Office lobby café featuring high-end grab and go breakfast and lunch options
- State of the art fitness center and conferencing facilities
- Fourth floor outdoor bar and grill with terrace overlooking Nicollet Avenue
- Underground parking, porte cochere, and bike parking
A collaborative environment fosters success
JLL’s collaboration internally was crucial to the success in this project. Despite the challenging office market during the height of the pandemic, Castlelake, a large anchor tenant, was secured the with help from the JLL Tenant Representation team. Positioned as a highly desirable space and location, the JLL team effectively marketed the space, resulting in the property being 95% pre-leased by October of 2021.
RBC Gateway officially opened for business in the beginning of 2022. It is currently fully leased, proving JLL’s resources and local expertise have exceeded leasing assumptions and set a new standard for Minneapolis office space.