Minneapolis Lawyers Weigh In On Downtown Office Building Woes
With 13 of the 14 highest-assessed office buildings decreasing in value between 2020 and 2023, downtown Minneapolis exemplifies the troubled state of office buildings across the country. Karla M. Vehrs and William P. Wassweiler, Minneapolis-based members of Ballard Spahr's national Distressed Office Buildings team, spoke to the Minneapolis-St. Paul Business Journal about market conditions both locally and nationally.
"You don't necessarily need to distinguish between Minneapolis and the national market," Mr. Wassweiler said. "Especially for downtown Class A real estate, these are national lenders, and they're facing the same kind of issues all around the country.”
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