The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-25
MORE OFFICE ROOM Is
URGENTLY DEMANDED
Erection of New 500 and Security Bank Buildings Has No
Appreciate Effect Pressure for UptoDat Business
Quarters in Particular Are Clamorng for
Modern Accommodations

THE completion and occupation Of
new 500 Line and Security
"A bank buildings reveals con-
dition in Minneapolis. Business inter
ests are so pressed for room that they
have Immediately expanded into the
space occupied by the tenants that have
moved out, or are preparing to include
additional space in their quarters when
the new tenants of the Security build
ing have moved from their former
Offices. ...
In the Lumber Exchange, Andrus
building and Metropolitan Life it is
found that the departure Of tenants is
only a signal for the letting of addi-
tional space to other tenants who re-
main. The situation is said to result
entirely from the pressure of growing
business, to say nothing Of the organ
ization of new companies. -
All Space Absorbed. .
Notwithstanding the addition of sew
eral thousand feet of room by the cree
tion Of the latest office building, there
appears to be no surplus Of office space.
In fact, the scarcity seems to be as
pressing as before. This situation is
Business office buildings offer them lit
ious, principally because the equipment
they require is so different from that
provided in regular office buildings that
they are not particularly desirable, ,ex-
cept in exclusively medical structures.
Only one or two modern medical
buildings exist in Minneapolis today,
and they are insufficient. This creates
a peculiar condition as concerning the
medical fraternity. Should the plan to
create large building exclusively for
doctors be carried out, the exodus to
amount of office space in other build
ings for regular business purposes.
This will help the situation some, even
if capitalists do not seize the oppor-
tunity to put up another half million
dollar office building.
= 500 Helps Some.
| Naturally the SEQ line building is oc,
cup1ed only by company officials. It
!! really cuts little figure in the situation,
except as relieving the stringency in
other buildings; but in the case Of the
Security Bank building, the manage
ment, the David c.. Bell Investment
conn any, has insisted on two REQUESTS
bility. It has found rigid enforcement
of these conditions no bar, as already a
large proportion Of the space is con-
tracted for. This speaks well for the
class of business that is seeking Offices,
showing that the increase is on the part
of legitimate enterprises. Id
In regard to the office situation gen.
orally, Walter A. Eggleston, represent
ing the owner of the new Security bank
building said: :
Demand for space in the new Sc.
curity bank building is something phe
| nomenal. Applications for space are
largely from firms that have outgrown
their present quarters, and must have
! larger space and from people who are
willing to spend a little more money
in making their business houses attract
ive.' -
tfThis tendency was most marked al
the completion Of the Andrus building
and the Chamber of Commerce. Al
into new quarters sold all their furn
iture and equipped themselves to cor
respond with their new offices. The
greater portion of the furniture in thu
Chamber Of Commerce was new anj
many. of the Offices were fixed up at
tractively. -.
Pay More for Looks.
'Business' men are giving more atten
ton to their business surroundings an,
are willing to have attractive offices
In this respect Minneapolis is certainl,
not behind other cities. We have sew
with office structures in other cities o
the same size. Naturally the las
building erected is much sought after
but one Of the surprising things abou
the Security bank building, which i