RBC PLAZA

OFFICE LEASING & MARKETING – 710,000 SF

RBC Plaza was built in 1991 and featured a 40 story class A tower with a 4 story retail component known as Gaviidae II. Gaviidae II was comprised of a food court on the 4th level, dysfunctional retail on the 3rd and 2nd level and Morton’s steak house occupied the lower level. The office tower and retail component were separated by an atrium from the lower level to the 4th floor and a large stone wall blocked convenient access to the office tower elevators. In 2013, KBS purchased the property and hired Cushman & Wakefield for property management and leasing. Soon thereafter Shea Architects was brought in to assist in planning a major renovation that would transition the property into a cohesive, more functional class A property that would embody new workplace trends. The challenge was to design a plan that would optimize the functionality of the building, take advantage of the Nicollet Mall location, provide a competitive tenant experience and maximize leasable space between retail and office.

SOLUTIONS:
  • Infilled the atrium on 3rd and 4th floor to re-purpose and create new leasable office square footage.
  • Cut in larger exterior windows on the 3rd, 4th and lobby entrances to enhance the office and 6th street lobby.
  • Create new tenant amenities in the lower level fitness, locker rooms, board room, training room and on-site property management.
  • Infill a portion of atrium on street level to create direct access from the Nicollet Mall entrance to the office tower elevators.
  • Replace a stone wall that blocked the office tower elevators with glass to create direct sight lines.

 

resultS:
  • Current occupancy at 95%.
  • Achieved recognition as one of the top building renovations in the market.
  • Increased rents by 20% in two years while the property was under construction.
  • As of Q1 2016 we back filled 80% off an 80,000 square foot tenant that vacated in Q4 2014, all during the renovation.
  • Successfully managed tenant and prospect expectations, safety and wayfinding during the 2 year renovation.