Entire Downtown Duluth Office Building Is Now For Sale

How would you like to own an over 98,000-square-foot building in a prime downtown Duluth location that was built in 1956 and features skywalk access, parking, and fantastic views of Canal Park and Lake Superior?

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Well, this could be your lucky day because an entire downtown Duluth building recently hit the market that would provide all that and more. You'd also have the opportunity to creatively develop unoccupied space.

Briksy recently officially listed Duluth's Wells Fargo Center, located at 230 W. Superior Street, for sale, adding that the property offers many possibilities including "a traditional value add office or a variety of conversion possibilities."

They note in the listing that current ownership has made over $2,000,000 in investments into multiple CAPEX projects during ownership. Also, in 2016 the City of Duluth/Duluth Transportation Authority completed $27,000,000 in renovations to the parking deck facility connected to the building.

The building is currently 74% occupied and 24% vacant, including the entire 9th floor. Wells Fargo occupies about 16,000 square feet of space.

Brisky says other highlights of the property include:

• Abundant, priority secured parking (daily, monthly, hourly rates).
• Elevator security/fob access with the ability to lock out each floor at the tenant’s desire.
• Office space that overlooks Lake Superior.
• Fully-secured lobby areas with bank security surveillance.
• Skywalk access throughout downtown Duluth, including skywalk access across I-35 to the Duluth Economic Convention Center / Lake Superior.
• Within walking distance of multiple restaurants/coffee shops.
• Flex space and storage options are available.
• Within walking distance of the YMCA.
• Roof replaced in 2012 - $185,000. The warranty runs through 7/30/2032; the
• Skywalk to parking deck warranty runs through January 2031.
• Chiller replaced in 2012 - $227,000.
• Elevators modernized with individual floor security settings depending on occupant needs in 2014 - $1,000,000.
• Windows replaced with triple pane, including tuck-point work on exterior in 2017 - $1,100,000.
• HVAC controls upgraded in 2016 - $100,000.

The sale price for the Wells Fargo Center is listed as "negotiable", but Minneapolis/St. Paul Business Journal says county records show the market value of the property is $4.7 million, as assessed in 2023.

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