LCN CAPITAL PARTNERS
Redevelopment Strategy, Pre-Development, Disposition Strategy
CLIENT: LCN CAPITAL PARTNERS
CITY: MINNETONKA, MN
SIZE: 345,000 SF BUILDING ON 20.73 ACRES
CHALLENGE:
LCN Capital Partners owns a 345,000 SF Class A office building located on a 20-acre site at 9900 Bren Road. The entire property is leased to UnitedHealth Group and serves as their headquarters. The 40-year-old building will be vacated at the end of 2024 as UHG moves to a smaller consolidated footprint. LCN engaged C&W to help them find the highest and best use for the building and develop a disposition strategy in a market where office demand is very low.
APPROACH:
• Define a bespoke approach to prepare the property for redevelopment.
• Evaluate the market for various potential reuses.
• Partner with design professionals, C&W's capital markets and office leasing teams to explore alternative building uses.
• Work with contractors to estimate costs and viability of conversion /retrofitting under multiple scenarios and determine feasibility.
• Undertake pre-development work with the city staff and elected officials to secure their support.
• Develop offering material to engage developers and occupiers making it easy to evaluate the opportunity.
