Aerospace and Defense Technology Company Leonardo Drs Inc. has signed a 10-year-old, 48,563 square foot rental agreement in Group RMC’s Grand Oak Business Park in Eagan, Minn.
The company ranges from its current offices in Burnsville, Minn. To the single floor, 107,076 square foot Grand Oak VII. The relocation is planned for the fall of this year.
Transwestern Real Estate Services arranged the lease on behalf of the ownership, while RV3 solutions represented the tenant in the transaction.
June saw the rates of the office list in the Twin Cities Klok in an average of $ 26.04 per square foot, an increase of 4.4 percent on an annual basis, according to the latest Yardi Matrix Office report. The total vacancy in the metro rose to 17.5 percent in the same month, which reflects an increase of 150-base point for a period of 12 months.
A 100 -hectare company park
Grand Oak VII came online in 2002 on 2750 Blue Water Road. The building is one of the ten within the 100 -hectare Grand Oak Business Park, which includes eight office buildings and two retail positions. Shared facilities on campus have a nine-hole putting green, a walkway of a mile, conference centers, fitness rooms, patios outside and storage space. The building offers shuttle services on the Minneapolis-Saint Paul International Airport and the Mall of America.
The business park has access to Interstates 494 and 35th and US Roads 55 and 149. The building is also surrounded by eateries and retail options, including Costco and Starbucks. Downtown Minneapolis is 15 miles away, while St. Paul, Minn., Is about 12 miles north.
Transwestern director Mike Honsa worked on behalf of the ownership, while RV3 Solutions Founding Partner & CFO Chuck Bower, together with Managing Principal & President Jerry Moore, represented the tenant.
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