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Eden Prairie, Minn.-based Liberty Property Trust bucked the odds of today’s sluggish commercial real estate market by finalizing 14 new and renewed leases in the second quarter for a total of 155,661 square feet of space.

“Several of these deals are expansions for existing tenants, which we see as a very positive sign,” said Brad Butler, senior leasing representative for Liberty in Minnesota. “Companies are looking to grow in controlled but meaningful ways. This is the second consecutive quarter in which existing tenant growth has been as encouraging as new leases.”

The quarter was marked by five expansions, five new leases and four renewals. Several buildings reached 95 percent to 100 percent occupancy, and the region’s overall occupancy rate remains at 93 perecent.

At Flying Cloud Corporate Campus, Kroll On-Track leased an additional 6,536 square feet of office space. The company now leases space in all six buildings in the park.

Other expansions in the Minnesota region include:

• Quantum Graphics added 2,000 square feet of space at Shady Oak Business Center A, bringing the lease to a total of 19,123 square feet and the building to 100-percent leased.
• Rev Solutions, currently a tenant at 10400 Viking Drive in Eden Prairie, has renewed and expanded its lease to a total of 16,051 square feet of space, beginning March 2011.
• ev3, Inc. has renewed and expanded its lease of 85,528 square feet in Plymouth, Minn. The building is now 100-percent occupied by the tenant.
• Geraty Investments, LLC added 1,449 square feet of space, bringing its new total lease commitment to 4,299 square feet in Eden Prairie.

New leases in the region include:

• Dominium Management Services LLC has signed a new lease for 31,261 square feet of office space at Northwest Business Campus I in Plymouth. The deal brings the building to 95-percent occupancy.
• Econar Geosystems has signed a new lease for 15,397 square feet of office space at Meridian Business Center in Maple Grove, Minn.
• Isilon Systems, Inc. has signed a new lease for 15,047 square feet of space in Plymouth.
• Daymon Worldwide Inc. leased 9,727 square feet of office space in Eden Prairie, bringing the building (Shady Oak Business Center C) to 100-percent occupancy.
• Chiropractor Dr. Robert Shelton has signed a new lease for 1,867 square feet of office space in Minnetonka, Minn.

Tags | Eden Prairie, Liberty Property Trust, Minnesota, Minnetonka, Office