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As a Vice President at Colliers International, Eric Rapp specializes in the leasing and sales of office and educational buildings. Eric’s disciplined approach to serving his clients and in-depth market knowledge have earned him a strong reputation with owners, tenants and the brokerage community.
Galtier Plaza in Downtown St. Paul was struggling with a 44% occupancy rate; moreover, the tenant mix for the building included several low-end tenants on short-term leases. Determined to reposition the 220,000-square-foot building, the owner committed several million dollars towards renovation and hired Eric to take over the leasing. Eric aggressively pursued new occupants for the Plaza, targeting technology and creative companies. After 6 years under Eric’s representation, Galtier Plaza was sold at an 82% occupancy rate, a rate that was 6% higher than the overall Downtown St. Paul office market.
In recent years, the Saint Paul United Way merged with the Minneapolis United Way to form the Greater Twin Cities United Way. Due to the merger and restructuring, the former St. Paul headquarters, a 53,000 SF Downtown office building, went from being 100% owner-occupied to a multi-tenant building with over 20,000-square-foot vacant.
The United Way hired Eric to help lease the superfluous space, but Eric demonstrated the advantages of selling the building and relocating the United Way to another Downtown building. Eric secured a buyer for the building and helped relocate the St. Paul staff to another address.
Brokerage, Brokerage: Office
Central Bank, Greater Twin Cities United Way, Port Authority of St. Paul, US Bank, Wells Fargo, Thompson National Properties
B.A., St. Johns University
Society of Industrial and
Office Realtors (SIOR)
St. Paul Chamber of
Affiliations & Memberships
MNCAR, Building Owners and Managers Association (BOMA), St. Paul Area Chamber of Commerce, Midway Chamber of Commerce