CBRE Arranges 27,748 Square Foot Office Lease in Downtown Minneapolis

CBRE has arranged a new, 27,748 square foot office lease within Deluxe Plaza at 801 Marquette in downtown Minneapolis. Workbox, a specialized flexible office operator dedicated to providing solutions and resources to early and growth stage companies to help grow their business, has signed a lease and will have a grand opening November 2, 2022.

The CBRE team of Larissa Bodine, Ann Rinde, and Mark McCary represented Deluxe Plaza ownership, Franklin Street Properties, in the transaction. Deluxe Plaza is managed by Ryan Companies.

This is the fifth location for Workbox and the first outside of Chicago. The company will occupy the skyway level of the building. Deluxe Plaza has undergone recent renovations and offers an ample suite of amenities including a tenant lounge and coffee shop in the building’s central atrium, rooftop deck, a tenant-exclusive fitness center, and a training center.

“Finding a flexible co-working operator provides a strategic advantage for the property,” said Bodine. “The tenant community will benefit from a larger mix of industries represented in the building, including dynamic growth-stage companies that might not have otherwise been able to commit to a larger long-term lease in a top-tier building.”

A 2022 national survey by CBRE found that while just 17 percent of respondents have a significant amount of co-working or flexible workspace in their office portfolio today, 51 percent said they expect to fit into that category over the next two years, up from 35 percent in a similar CBRE survey conducted in 2021.