Medica

Minnetonka, MN

230,000 SF

Cresa Minneapolis

 

Client Objectives

As one of Minnesota’s largest HMOs, Medica sought new headquarters space which reflected fiscal restraint and yet created a desirable workplace. The optimal solution had to be able to reflect the image of a large successful organization, while at the same time demonstrate responsible and prudent stewardship of its expenses.

Result

As Medica’s chosen real estate provider, Cresa first helped identify both existing and suitable new construction alternatives, then helped them thoroughly analyze the options to arrive at the right solution. Renovation of the current facility was also analyzed, taking into consideration issues of timing, traffic, and budget, as well as corporate image. Ultimately, it was decided Medica’s new home would be an existing multi-tenant class A building with top quality systems and technology. Cresa also negotiated an expansion option on the adjacent building to accommodate future growth, as option which has been exercised five times since the original lease was signed. The favorable lease terms also included renewal options, termination options, and a purchase option. As an added incentive, the landlord relocated four existing tenants and constructed a new parking ramp.

Additional Assignments

Tenant Representation - Regional Sales Office - Duluth, MN
Tenant Representation - Regional Sales Office - St. Cloud, MN
Tenant Representation - Regional Sales Offices - Fargo, ND
Tenant Representation - Lease Amendments - Multiple Locations
Property Disposition
Property Tax Appeal
Lease Audit & Operating Expense Reconciliation