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Schafer Richardson’s Commercial Leasing Team Update

Posted Under: Blog

March 9, 2023

The Schafer Richardson commercial leasing team has been busy over the past several months! Mike Olson, Erin Larson and Denise McCormick make up the in-house leasing team and represent the company when negotiating new and renewal leases in its local commercial portfolio of office, retail, and industrial properties.

Mike specializes in leasing Schafer Richardson’s office properties, specifically in the North Loop and Northeast markets, consisting of approximately 17 buildings of over 1.3 million square feet.  Erin specializes in leasing Schafer Richardson’s retail and mixed-use properties, in the Minneapolis and suburban markets, consisting of approximately 19 buildings of over 1.3 million square feet.

Mike and Erin also represent several industrial buildings in the company’s portfolio located throughout greater Minnesota, including Eagan, St. Michael, and Duluth.

Denise McCormick, one of Schafer Richardson’s Property Managers, represents the company in leasing the flex floor of Osborn370, a redeveloped office tower in Downtown St. Paul.  Since October 2022, Denise leased flex floor office spaces to 3 new tenants and renewed/restructured leases for 2 existing tenants in the building.

Notable recent new lease transactions include:

Office

  • The Canopy Group leased 11,702 SF at the Banks Building (NE Minneapolis)
  • CBS Squared leased 4,326 SF at the Banks Building (NE Minneapolis)
  • The Beard Group leased 1,787 SF at the 530 N Third Building (North Loop)

Retail

  • Rumble Boxing leased 3,573 SF in the Viridium Apartments Building (North Loop)
  • David’s Vacuums leased 1,100 SF in the Cedar Cliff Outlot Building (Eagan)
  • ARCH Salon leased 4,905 SF in the IDC Building (North Loop)
  • Vivid Home leased 3,860 SF in the IDC Building (North Loop)
  • Silver Fern leased 2,051 SF in the M on Hennepin Building (NE Minneapolis)

Schafer Richardson also owns approximately 1.8 million square feet of outstate commercial property which is leased by local, third-party groups.

The leasing team has seen steady traffic at all of its assets throughout the owned portfolio and continues to acquire and develop properties throughout the metro, greater Minnesota and Midwest region. Please contact us with any questions or interest in our commercial assets.