©2026 Real Estate Publishing Corporation
February 2026 • VOL. 43 No. 1
A slowdown in office leasing activity? Not at downtown Minneapolis’ SPS Tower By Dan Rafter, Editor
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SPS Tower in downtown Minneapolis continues to attract tenants thanks in part to amenities and welcoming public spaces. (Photos courtesy of Transwestern.)
ot all office buildings are struggling to attract tenants today. Consider the SPS Tower in downtown Minneapolis.
The 31-story, 655,070-square-foot Class-A office tower completed 66,000 square feet of new and renewed leases in the third quarter of last year. A big contributor? A new 30,000-square-foot Regus workspace scheduled to open on the tower’s 21st and 22nd floors.
Other businesses that signed new leases in SPS Tower in the third quarter of last year were Schechter Dokken Kanter, A Twin Cities-based CFO, accounting and tax firm, which leased 14,000 square feet; Emergent Software, which is moving into a 6,700-squarefoot spec suite; and Heritage Wealth Advisors, which leased a 4,200-square-foot spec suite. Three existing tenants renewed their leases in the building during the third quarter, too. SPS Tower stands out among its competitors thanks to its amenities. The building offers a two-floor spec
suite space on the 19th and 20th floors with a tenant lounge, meeting spaces and a podcast studio. Earlier this year, FRGMNT Coffee opened in SPS Tower’s skyway level. And one of the more unusual amenities? The Turf Club, the largest lawn in downtown Minneapolis. The Turf Club offers a putting green and entertainment space. We spoke with Jim Montez, vice president of agency leasing with the Minneapolis office of Transwestern, Office to page 20
Business of Housing
Driving value through partnership and smart design By Jesse Hadley, AIA, Principal Architect & Ben Lindau, Principal Architect – JLG Architects Photography by Amdak Productions & Piggyback Creative
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aximizing ROA in Multi-Family Housing In the competitive world of multi-family housing, success isn’t just about breaking ground or getting a project approved¬—it’s about unveiling new ideas that maximize return on investment, making the undertaking feasible and worthwhile for all parties. The most effective developments aren’t just well designed, they are strategically planned to attract
residents, differentiate from competitors, and ensure long-term value for investors. As architects, our role extends well beyond design. We help developers bring projects to market with a vision that drives efficiency and profitability. To accomplish this, we start with a fresh, future-ready perspective that builds strong partnerships, facilitating the collaboration necessary to maximize value for every dollar spent.
Bring Something New to Market
To lease up a new apartment quickly, several boxes need to be checked, including creating a memorable brand and differentiating amenity package. Identifying the right location, target market, and lifestyle is key to capturing the interest of prospective residents. Cultivating a lifestyle experience that reflects its residents and leverages the unique qualities of the neighborBusiness to page 22