RBC Plaza

Property Overview

RBC Plaza is a 40-story Class A office tower situated along the prestigious Nicollet Mall within the heart of the Minneapolis financial district. Constructed in 1991 and renovated in 2015, RBC Plaza is a core trophy-quality office investment leased to a diverse mix of tenants. Several large investment-grade companies, including RBC Capital Markets, anchor the property.

The lower level of RBC Plaza provides tenant amenities including a state-of-the art conference center, fitness center with locker rooms, bike storage area, valet lounge and meeting areas. A two level retail concourse sits atop this amenity floor. RBC Plaza also includes a three-floor below-grade garage with valet parking.

The Twin Cities Metropolitan Statistical Area (MSA) is the location for the global headquarters of 19 Fortune 500 companies and 13 Fortune 1000 companies. With a growing population in the Minneapolis/St. Paul MSA, Minneapolis continues to demonstrate strong fundamentals that will help support continued absorption in the office market.

Minneapolis also has one of the most vibrant central business districts in the country. The city’s unique 8-mile-long skyway system links its high concentration of entertainment venues, retail stores, professional sport teams and office complexes. The Skyway provides access to 1,500 apartments and condominiums, 4,000 hotel rooms and almost 20 million square feet of office space. The Minneapolis Light Rail Transit runs directly to the north of RBC Plaza.

Investment at a Glance

Location: Minneapolis, MN

Property Type: Office/Retail

Acquisition Date: January 31, 2013

Purchase Price: $118,077,000

No. of Buildings: 1

No. of Stories: 40

Square Footage: 678,045 SF Office

Square Footage: 68,677 SF Retail

Year Built: 1991

Leased Percentage (at the time of Acquisition): 83%