386 Wabasha St
Saint Paul, MN 55102
Ecolab University Center · Office Property For Sale

Repositioning Opportunity - The Property is currently 100% occupied by Ecolab through December 2019. The opportunity allows for a prospective investor to collect the remaining 20 months of income or approximately $1.7 million while planning to reposition the Property. There have been numerous office conversions to both apartments or hotels in the immediate area. The Ecolab building offers flexibility for prospective investors to pursue options to re-tenant the building upon the lease expiration of the Ecolab lease term or reposition the asset into a multi-tenant office or alternative use.  Premier Location & Skyway System - The Property is located in a mature CBD office corridor, and is conveniently surrounded by numerous retail/entertainment amenities. Ecolab University is linked to the St. Paul skyway system on the second floor which provides patrons a five-mile long climate controlled walkway accessed throughout the majority of the CBD. Below Replacement Cost & In-Place Cash Flow - The Property is being offered significantly below replacement cost. Market rental rates in the St. Paul CBD do not warrant new construction, decreasing the likelihood of added competition through new construction. Additionally, a new owner will have the opportunity to acquire the asset with in-place cash flow through the Ecolab lease term expiration of December 2019. Flexible Investment Opportunity - The Property has functional floor plates for continued office use, and due to the multi-story nature of the Property, the Property has the flexibility to convert to a multi-tenant building, ideally with full floor tenants. Considering the Building will become 100% vacant in 2020, the Property is well poised for a conversion to alternative use, such as multifamily apartments or hotel use.