Wells Fargo Plaza (Bloomington) Explained

Wells Fargo Plaza
Location:Bloomington, Minnesota, United States
Address:7900 Xerxes Ave. S.
Coordinates:44.8595°N -93.3232°W
Completion Date:1974
Floor Count:24
Architectural Style:Modernist
Height:300ft
Developer:Rauenhorst Corporation

Wells Fargo Plaza is a high-rise office tower complex located at 7900 Xerxes Avenue in Bloomington, Minnesota in the United States. Standing at 300 feet with 24 stories of Class A rated office space,[1] the main tower is considered one of the more dominant landmarks of Interstate 494. The tower connects to an auxiliary three story building through a central atrium.

The tower was originally proposed in 1969 by the Rauenhorst Corporation. At the time, the plans included a revolving restaurant and a heliport.[2] The Plaza was built in 1974. A turntable was installed for the revolving restaurant, but in 1977, the Rauenhorst Corporation converted the top floor into office space, as they could not find a restaurant tenant.[3] [4]

It is currently the 56th tallest building in Minnesota, and was the tallest in Bloomington until 1988, when it was surpassed by the 8500 Tower. It earned a TOBY award in 2012 from the Building Owners and Managers Association of Minneapolis.[5]

After extensive renovations in 2010, the plaza was put up for sale in July 2015.[6] DRA Advisors bought the property in November of that year,[7] and currently owns the building through a joint fund with City Center Realty Partners.

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Notes and References

  1. Web site: 2020-07-30. CBRE closes 80,000-square-foot lease at Wells Fargo Plaza in Minneapolis. 2021-01-09. REJournals. en-US. 2021-01-11. https://web.archive.org/web/20210111040520/https://rejournals.com/cbre-closes-80000-square-foot-lease-at-wells-fargo-plaza-in-minneapolis/. live.
  2. News: Office tower proposed. Charles Whiting. Minneapolis Star. August 20, 1969. September 14, 2018. September 15, 2018. https://web.archive.org/web/20180915002128/https://www.newspapers.com/image/188316814/?terms=northwestern%2Bfinancial%2Bcenter%2Brevolving%2Brestaurant. live.
  3. News: Revolving restaurant gets office twist. David Peterson. Minneapolis Star. June 17, 1977. September 14, 2018. September 15, 2018. https://web.archive.org/web/20180915002030/https://www.newspapers.com/image/190524905/?terms=northwestern%2Bfinancial%2Bcenter%2Brevolving%2Brestaurant. live.
  4. Web site: 2016-03-24. Seeking downtown Bloomington — whose Main Street is called 494. 2021-01-09. MinnPost. en-US. 2021-01-11. https://web.archive.org/web/20210111062708/https://www.minnpost.com/stroll/2016/03/seeking-downtown-bloomington-whose-main-street-called-494/. live.
  5. Web site: Building Blocks – Wells Fargo Plaza. Jossi. Frank. Finance & Commerce. en-us. 2016-06-13. 2016-08-08. https://web.archive.org/web/20160808062401/http://finance-commerce.com/2012/03/building-blocks-wells-fargo-plaza/. live.
  6. Web site: Bloomington's Wells Fargo Plaza is for sale - Minneapolis / St. Paul Business Journal. Minneapolis / St. Paul Business Journal. 2016-06-13. 2016-08-06. https://web.archive.org/web/20160806203935/http://www.bizjournals.com/twincities/print-edition/2015/07/24/wells-fargo-plaza-for-sale-bloomington.html. live.
  7. Web site: Wells Fargo Plaza on Interstate 494 lands a buyer - Minneapolis / St. Paul Business Journal. Minneapolis / St. Paul Business Journal. 2016-06-13. 2016-08-06. https://web.archive.org/web/20160806203930/http://www.bizjournals.com/twincities/blog/real_estate/2015/11/wells-fargo-plaza-on-interstate-494-lands-a-buyer.html. live.

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