Wells Fargo Center - Value Add | Duluth, MN

230 W Superior Street, Duluth, MN

Market Price

Price

98,068 sqft

Building Size

0.26 acres

Lot Area

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Street
Map
Overview
Building Size
98,068 sqft
Lot Area
0.26 acres
Occupancy
74%
Class
B
Year Built
1956
Floors
9
Description

Value Add Opportunity -
This property offers many possibilities including a traditional value add office or a variety of conversion possibilities. The prime downtown location has sweeping big lake views overlooking Canal Park and Lake Superior.

Strategic Investments -
Current ownership has made over $2,000,000 in investments into multiple CAPEX projects during ownership. See page 6 for details.

Recent Parking Deck Renovations -
In 2016 the City of Duluth/Duluth Transportation Authority completed $27,000,000 in renovations to the parking deck facility connected to this building.

Tenant-Centric Amenities -
The property has several amenities for tenants including parking, secure elevator and lobby areas, overlooks Lake Superior, skywalk access to downtown, and flex space and storage options.

Prime Downtown Location -
Great corner location in downtown Duluth. Centrally located with signage, skyway access, and high traffic counts.

Market Advantage -
In the Duluth CBD there are no office properties under construction, and nothing has been delivered in the past three years.

Ability to Rebrand Asset -
LL reserves the right to remove / replace one of the two Wells Fargo signs at the top of the building in the event that user occupies more SF than Wells Fargo.





n/a

Highlights
  • Abundant, priority secured parking (daily, monthly, hourly rates).
  • Elevator security/fob access with the ability to lock out each floor at the tenant’s desire.
  • Office space that overlooks Lake Superior.
  • Fully-secured lobby areas with bank security surveillance.
  • Skywalk access throughout downtown Duluth, including skywalk access across I-35 to the Duluth Economic Convention Center / Lake Superior.
  • Within walking distance of multiple restaurants/coffee shops.
  • Flex space and storage options are available.
  • Within walking distance of the YMCA.
  • Roof replaced in 2012 - $185,000. The warranty runs through 7/30/2032; the Skywalk to parking deck warranty runs through January 2031.
  • Chiller replaced in 2012 - $227,000.
  • Elevators modernized with individual floor security settings depending on occupant needs in 2014 - $1,000,000.
  • Windows replaced with triple pane, including tuck-point work on exterior in 2017 - $1,100,000.
  • HVAC controls upgraded in 2016 - $100,000.
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