Two big players are doubling down on their downtown presence, and in the same building, no less.
The Minnesota Timberwolves and Lynx organization is expanding by about 9,000 square feet within Mayo Clinic Square, located at 600 Hennepin Ave., while the Mayo Clinic itself is renewing its long-term lease, according to property manager JLL.
The four-story building across the street from Target Center contains a Mayo Clinic sports medicine facility, training facilities and team offices for the Minnesota Timberwolves and the Minnesota Lynx, a Jack Link’s office, the Loews Minneapolis Hotel, Kieran’s Irish Pub, and a Jimmy John’s store.
Originally known as Block E when it opened in 2001, the 222,000-square-foot building underwent a $90 million renovation that converted its primary use from retail to office about a dozen years later. It reopened as Mayo Clinic Square in 2015 with the Mayo Clinic Sports Medicine and the Timberwolves/Lynx signed on as anchor tenants, as part of a “strategic collaboration” between the two.
Jon Dahl, one of three JLL brokers who handle leasing at Mayo Clinic Square, told Downtown Voices that they’ve both been “great tenants and stewards of the state.” He declined to share specifics on the lease terms.
Currently, there are two first-floor vacancies measuring about 8,500 square feet and 10,000 square feet within Mayo Clinic Square, which will most likely eventually be filled by new retail tenants, according to Dahl.