Element has played a pivotal role in revitalizing a stagnant leasing process at Vandalia Tower, a historic building once home to King Koil mattress factory, which had been facing a significant 60,000 SF vacancy challenge.
Since 2022, Element has continuously collaborated closely with owner, Baum Revision, in devising a leasing strategy targeting both larger office tenants and local creatives. By implementing staged suites, selective improvements to vacancies, and transparent marketing materials, Element continues to execute a strong leasing plan, which has successfully completed 33,000 SF in transactions, securing leases for creative office users, artists, and retailers. Notably, King Coil Spirits, a vibrant onsite distillery, has become a standout tenant amenity that opened in the Fall of 2023.
Throughout the leasing process, Element works to secure optimal tenants, guiding through challenging construction prices and finding buildout solutions tailored to each individual need. Element's open communication with ownership and property management, and readiness to provide expert advice has contributed to a seamless and successful leasing experience. Element has also showcased creativity through inventive marketing strategies, utilizing social media and events to generate excitement around Vandalia Tower, highlighting building features such as vibrant common areas, freight-capable elevator, on-site brewery, distillery, and coffee shop, attractive greenspace, spacious surface parking lot, and its central Twin Cities location.
The collaboration between Element and Baum Revision has successfully fostered a vibrant community of creatives within Vandalia Tower. The building now features a distinctive mix of dynamic maker tenants and entrepreneurs, while maintaining a strong pipeline of potential new occupants.