Medica Deal at 401 Carlson Parkway Wins Office Transaction of the Year

Carlson Real Estate Company is pleased to announce that its lease with Medica at 401 Carlson Parkway is the recipient of the Minnesota Commercial Association of Realtors (MNCAR) Office Transaction of the Year for 2003 .

In February of 2003, Medica signed a lease to move its headquarters to 401 Carlson Parkway, a 213,000 square foot mid-rise office building in Carlson Center. Additionally, Medica leased 13,000 square feet at Carlson Business Center for a related use.

The brokers for this transaction were Jim Freytag and Dave Marschinke from CB Richard Ellis who represented Carlson Real Estate Company, and Jim Vos with CRESA Partners who represented Medica.

To make this transaction possible, the existing tenants in 401 Carlson Parkway, including Michael Foods, Inc. (44,000 square feet), had to relocate to 301 Carlson Parkway. The lease with Medica required multiple steps before it could be finalized, including negotiating leases or lease modifications for 14 tenants and building a 240-stall parking ramp to the site.

Matt Van Slooten, President of Carlson Real Estate Company, credited the success of this project to the relationships that Carlson Real Estate Company has with their tenants. "Our property management, maintenance staff and everyone in our office helped to make this possible. Without their daily positive interaction with our clients, I don't think this could have been accomplished."

401 Carlson Parkway is part of Carlson Center, the award-winning mixed-use development at I-394 and I-494 in Minnetonka and Plymouth, Minnesota. Other office space is available within Carlson Center including the full fourth floor at Two Carlson Parkway and limited space at 301 Carlson Parkway and One Carlson Parkway.

Carlson Real Estate Company is a real estate investment company that fulfills business space needs by providing high quality properties, exceptional service and creative solutions. Carlson Real Estate Company's portfolio of office and industrial concentrated in Minnesota and Arizona exceeds 5 million square feet.