1:59 PM
Newmark announces a 65,000-square-foot office lease to Nerdery at 7700 France Avenue in Edina, Minnesota. Nerdery is a digital business consultancy focusing on product and service development and modernizations. Bloomington-based Frauenshuh owns 7700 France Avenue. Executive Managing Director Jim Damiani, CCIM, SIOR, Associate Directors Ryan Bohrer and Andrew Commers and Transaction Manager Maura Carland, CCIM represented Nerdery in the transaction.
Having been located in a Bloomington industrial park for over a decade, Nerdery’s new office location at 7700 France will provide the company easier access for its clients and proximity to employee amenities.
“We approached the relocation from every possible angle for Nerdery, considering a move to downtown among other areas, but ultimately 7700 France Avenue in Edina was identified as the best option,” said Damiani. “The company and its employees will benefit from the development, both completed and forthcoming, in the France Avenue corridor. Nerdery was ultimately looking for the best client and employee experience, so utilizing Newmark’s proprietary Tenant Experience ranking of office buildings was a key component for their decision to move to 7700 France.”
Nerdery will relocate to its built-out space in September. Minneapolis-based Studio KKChong designed the consultancy’s space build-out. The space, which will maintain the company’s open, collaborative (and dog friendly) environment, will include an internal staircase; reception area with coffee bar offering kombucha, nitro cold brew and seltzer on tap; and a rooftop patio. Clients will benefit from joining Nerdery teams in multiple highly secure spaces for HIPAA, PCI and other confidential projects.
“We are very excited to relocate our Minneapolis operations from a more remote space to 7700 France Avenue, allowing our clients to have more immediate access to our team members,” said Adrian Slobin, Nerdery’s CEO. “Because we’re in the early stages of our build-out, we have the flexibility to incorporate real-time solutions that keep our staff safe and socially distanced as we navigate the current pandemic situation. The safety and comfort of our employees is our first priority as we transition to our new office.”
Nerdery’s lease is the largest office lease year-to-date in the Minneapolis market, the seventh largest office lease in the Southwest submarket since the start of 2018 and the largest office lease in Edina since June 2016.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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