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Harrison St., Ryan Join Forces on Rochester Wells Fargo Redo

Chicago-based Harrison Street Real Estate Capital and Minnesota-based Ryan Companies acquired the Wells Fargo building in downtown Rochester, MN from Wells Fargo Bank N.A. for nearly $15 million. The six-story, 107,124-square-foot asset located at 21 1st St., which adjoins Peace Plaza and sits adjacent to and over First Street, will undergo an extensive $11.6-million renovation that will include:

  • An iconic glass addition at the corner entrance, to extend the public space in Peace Plaza
  • An expansive interior connection to the stairway between the subway, ground level and skyway, with better interaction with the street
  • Replacement of the exterior glass, from mirrored to clear, to create a more open and transparent work environment
  • Removal of an existing escalator, and infilling the atrium to better connect the building to Peace Plaza and the Chateau Theatre

Ryan’s Tony Barranco says, “We are inspired by the vision of the Heart of the City, and we are excited to reimagine the Wells Fargo building and create a vital connection between the subway, skyway and Peace Plaza.”

Construction is scheduled to begin next month, and is expected to be completed in September 2019. Wells Fargo will lease back roughly 20,000 square feet of space, including a remodeled first-floor branch.

TaTonka Real Estate Advisors represented the seller.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.