New Lease Gives Capella Naming Rights on Minneapolis Building
- Mar 21, 2008
Capella Education Co., parent of major online education player Capella University, has expanded its lease at 225 South Sixth in Minneapolis from 203,000 square feet to what will eventually be approximately 400,000 square feet. In recognition of the lease, which will involve Capella moving employees who are currently officed at the Campbell Mithun Tower in Downtown Minneapolis, the building will be known as Capella Tower. Lease terms were not immediately available. More than 1,150 Twin Cities–area Capella employees are slated to occupy 225 South Sixth, Minneapolis’ largest office building, by early 2009. Capella has leased space there since 2004. Tom Hauschild and Dan Johnson of The TEGRA Group assisted Capella with lease negotiations, and Bob Pfefferle and Mike Julius of Hines represented the building’s owner, ASB Capital Management. Founded in 1993 as The Graduate School of America, Capella University currently enrolls more than 20,000 students and has graduated more than 5,000. Capella Education Co. was on Inc. magazine’s list of America’s 500 fastest-growing private companies for five years in a row and went public in 2006.