(MINNEAPOLIS) – Hines, the international real estate firm, announced today that Dorsey & Whitney LLP (Dorsey) has signed a lease renewal commencing in 2016 for 250,000 square feet at its headquarters in Fifty South Sixth in Minneapolis’ CBD. Dorsey has been a tenant at the property since the building opened in 2001. The renewal will ensure their anchor-tenant status through 2031.
In conjunction with the lease renewal, Dorsey will be restacking its premises to gain better space efficiency, and as a result, rare upper floor space on levels 24 and 23 will be immediately available for lease for the first time since the building opened.
At the same time, Dorsey is taking additional space on level 13 for LegalMine, Dorsey’s e-discovery service.
In addition to finalizing Dorsey’s lease renewal, Fifty South Sixth
has been recognized and awarded for its efficiency, quality and customer service by achieving LEED® EB Gold Certification, ENERGY STAR® Certification, the BOMA 360 Performance Program Award and the local The Outstanding Building of the Year (TOBY) Award, all in 2013.
“Hines has a long-standing relationship with Dorsey dating back to 1978 when they signed a lease at Pillsbury Center (now U.S. Bank Plaza) – Hines’ first development in Minneapolis – and we are pleased to continue that relationship well into the future at Fifty South Sixth,” commented Hines Managing Director Steve Luthman.
“We are also thankful for the tremendous leadership provided by brokers Jim Damiani, Nils Snyder and Bob Chodos during this transaction.”
“Technology has transformed how law firms are staffed and how they deliver their services to clients,” said Dorsey Managing Partner Ken Cutler.
“We are delighted that we could renew our lease to serve our clients even more efficiently from the same great Twin Cities location.
We are also very pleased to continue our long-term partnership with Hines.”
Jim Damiani, Nils Snyder (Minneapolis) and Bob Chodos (Chicago) with Colliers International represented Dorsey in the renewal transaction, and Hines Directors Bob Pfefferle and Sargent Johnson represented the property owner, Hines Global REIT.
Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful companies from a wide range of industries, including leaders in the financial services, life sciences, technology, agribusiness and energy sectors, as well as major non-profit and government entities.
Visit www.dorsey.com for more information.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.
Currently, Hines manages 378 properties totaling 151.9 million square feet, which includes 84.3 million square feet for third parties.
With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED, ENERGY STAR, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.
Visit www.hines.com for more information.
Fifty South Sixth