After more than 30 years in two stately mansions on Franklin Avenue in Minneapolis,
the communications agency Padilla Speer Beardsley Inc. (PSB) needed more space
to accommodate current staff and future growth.
PSB enlisted Keewaydin
to help them find an uncommon location that would not only provide space
and a new image for the growing firm, but also meet a variety of requirements.
After
an exhaustive search, Keewaydin learned about an attractive
riverfront site primed for development in the heart of the former Minneapolis
milling district.
Just as the project began to take off, the initial
developer of the site was unable to obtain financing and the future of PSB's new
home on the Mississippi looked uncertain. Keewaydin approached the Minneapolis
Community Development Agency for an extension of the development agreement
and convinced Ryan Companies U.S., Inc. to step in and assume the role of
developer.
Keewaydin's extensive experience negotiating complex deals
with municipal entities aided them in obtaining the best deal for all involved.
Keewaydin negotiated a land price that would allow for additional space in the
building, which Ryan could then lease, providing additional income. Free
parking, a key requirement for PSB, was also included in the deal.
The
project was completed on time and under budget and PSB moved into their new
riverfront home in January 2002. |
