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Ecolab University

Address

386 N. Wabasha Street, St. Paul, MN

Square Feet

153,763 SF

Major Tenants

Ecolab

Submarket

CBD, Newark, NJ

Acquired

Summer 2003

Property Overview

Ecolab University Center is a 153,763 SF Class B office building located in the heart of St. Paul’s downtown CBD. The building is 100% leased to Ecoloab (NYSE: ECL), an "A" credit rated tenant (S&P), and is part of Ecolab’s CBD corporate campus. The building boasts Class A-type amenities, excellent views and is attached to the Skyway, a fully enclosed walkway that connects the vast majority of St. Paul’s highest quality buildings.

Investment Strategy

C&K recognized the opportunity to acquire a high-quality, Class B office building located in an irreplaceable location and 100% leased to one of St. Paul’s finest quality tenants. C&K’s out-of-NYC market strategy has been to buy only well-positioned, high quality assets with stable tenancies and cash flows. In this instance, the building is 100% leased to Ecoloab Inc (NYSE:ECL), an “A” credit rated tenant (S&P) that has been a St. Paul fixture since its founding in the 1920’s. As a core investment, the property has enjoyed a healthy return on initial investment and continues to appreciate with the greater Minneapolis-St. Paul market. C&K continues to manage the building with the exacting standards that have become its hallmark.

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