Minneapolis, Minnesota (May 18, 2025) – SPS Tower, a 655,070 sq. ft. Class A office building located at the east entrance to downtown Minneapolis, has completed 52,540 sq. ft. of leasing, with three existing tenants either renewing or expanding their previous leases. With 72% occupancy, the tower, owned by Sumitomo Corporation, remains among the most occupied downtown office buildings.
Accenture, which moved to SPS in 1993 and has one of the longest tenancies in the building, has renewed its 24,500 sq. ft. lease. The accounting and consulting firm leveraged its tenant improvement allowance to remodel their space, creating more collaboration space for employees. They celebrated with a ribbon-cutting with Mayor Jacob Frey on March 14, 2025.
“Our team at Accenture is dedicated to strengthening our presence in downtown. We gauge our success through various metrics, such as the value we bring to our clients, colleagues, partners, and communities. Renewing our lease and enhancing our office space at SPS Tower is proof of our commitment to Minneapolis,” said Lyncee Davies-Peterson, workplace lead – Accenture Minneapolis.
Mercer renewed their 24,252 sq. ft. lease, extending its home at SPS since 2013. The firm is a business of Marsh McLennan (NYSE: MMC) and a global leader in helping clients realize their investment objectives, shape the future of work, and enhance health and retirement outcomes for their people. They were represented by Eddie Rymer and Alex Ach from JLL.
“SPS Tower has a unique location with easy access in and out of downtown and just blocks to the downtown core, along with the largest lawn in downtown. With strong ownership commitment, we continue to reimagine the building to make it best in class for business to operate here,” said Jim Montez, vice president – SPS leasing, Transwestern.
SPS Tower completed $8 million in updates in 2024, including five new spec suites with an adjoining two-story tenant lounge space on the 19th floor. Renovations added new furniture, skyway space for new tenant FGMNT Coffee, and updates to furniture and lighting for the first floor and skyway levels.
The tower finished 2024 with more than 90,000 sq. ft in lease renewals, expansions, and new tenants. New leases included a 5,700 sq. ft. lease for Capillary, a travel brand loyalty business, and a 9,000 sq. ft. lease for Navitaire, an e-commerce platform for travel providers. Renewals included an 11,000 sq. ft. renewal and expansion for law firm Squires Waldspurger & Mace, and 3,500 sq. ft. renewal for long-time tenant Strong Tower.
One of the most unique renovations included the Turf Club, the largest lawn in downtown Minneapolis. It is a 6,000 SF seven-hole country-club style putting green and adjacent Turf Club Terrace entertainment space. It has hosted formal and informal golf competitions for tenants and professional groups.