CBRE Arranges 12,827 SF Lease for Life Link III at Shoreview Business Campus in Northeast Minneapolis Suburb

CBRE has arranged a 12,827-square-foot lease for Life Link III at Shoreview Business Campus, a flex building in Shoreview. The nonprofit medical air transportation company moved into its new location in March 2024.

Shoreview Business Campus is located at 4186 Lexington Ave. N., proximate to Highway 10 and interstates 35W and 694. The property is currently 91% leased with three additional medical office tenants including Allina Medical Clinic, Allina Health Urgent Care and Courage Kenny Sports & Physical Therapy. The property is managed by The RMR Group (RMR), a leading alternative asset management firm.

CBRE’s John Ryden, Jerry Driessen and Maxx Schindel represented RMR in the lease negotiations.

“CBRE has represented this building for 15 years,” said Ryden. “Additionally, the building has been 100% leased the majority of the time because of its corporate campus location near Boston Scientific and Land O’Lakes, plus the convenient access it provides to a number of major metro highways.”

According to CBRE Research, the Minneapolis office market saw 60,383 square feet of net absorption in Q1, a 72% increase year-over-year and 47% above the five-year quarterly average. Sublease availability on the market continued to decline, down 18% from its peak in Q2 2023. Over half of active sublease availabilities were listed over a year ago.