CBRE Arranges 80,000 SF Lease at Wells Fargo Plaza in Bloomington

29 Jul 2020

Day-Tower portrait - Wells Fargo Plaza 436

MINNEAPOLIS – July 29, 2020 – CBRE recently arranged an 80,000-square-foot lease with Wells Fargo Bank, NA at Wells Fargo Plaza, a 24-story Class A high-rise at 7900 Xerxes Avenue, in Bloomington. The property is owned by a fund managed by DRA Advisors and City Center Realty Partners.

Brian Wasserman and Joe Conzemius of CBRE Minneapolis represented the landlord in the transaction.

“This was a great team effort that provided Wells Fargo with a great long-term solution while successfully meeting the goals of our client’s DRA Advisors and City Center Realty Partners,” said Wasserman.

The negotiations started over three years ago and resulted in an early extension with Wells Fargo remaining in all of their office space, retail banking and drive thru locations that consist of over 80,000 square feet.

About DRA Advisors DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA was founded in 1986, the firm has acquired over $33 billion of real estate, including 79 million square feet of industrial, 59 million square feet of office, 82 million square feet of retail and 74,000 multifamily units. As of March 31, 2020, DRA has $11.6 billion in gross assets under management. For more information, visit: www.draadvisors.com

About City Center Realty Partners
City Center Realty Partners, LLC (CCRP), is a San Francisco based real estate investment firm, specializing in the development, redevelopment and acquisition of urban real estate. Nationwide, CCRP has developed and acquired more than $1 billion of retail, office, industrial, and mixed-use properties, representing over 3 million square feet. Please visit our website at www.ccrpllc.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.