NetREIT, Inc. Announces New Lease at Dakota Center

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Maryland-based, real estate investment firm, NetREIT, Inc. welcomes Fredrikson & Byron, P.A. to Dakota Center in Fargo, North Dakota.

NetREIT, Inc., a Maryland REIT with headquarters in Escondido, California, has announced that it has signed a lease with Fredrikson & Byron, P.A., a Minnesota-based law firm, at Dakota Center, a Class “A” office building located at the northeast corner of Broadway and N.P. Avenue in downtown Fargo, North Dakota. Fredrikson & Byron will occupy 17,191 square feet, representing a full floor and one-half of an additional floor.

Fredrikson & Byron is a 275-attorney law firm based in Minneapolis, with offices in Bismarck, Des Moines, Fargo, Monterrey, Mexico, and Shanghai, China.

NetREIT is currently underway with a major renovation of Dakota Center valued at more than $1 million. The improvements include a complete re-design of the main lobby, elevators, upper-floor common areas, signage, and parking lot. The improvements to the building will be completed in March, and the parking lot will be completed in the Spring. After the renovation, Dakota Center will be the premier Class “A” office building in Fargo.

NetREIT CEO, Jack Heilbron, had this to say: “We are very pleased that Fredrikson & Byron has made a long-term commitment to Dakota Center. Having such a prominent law firm as our customer, along with the soon-to-be-completed renovation of the property, will enhance Dakota Center as Fargo’s highest-quality office building.”

Dakota Center is a six-story, 119,000 square foot office building acquired by NetREIT in May, 2011. It is situated in the heart of the downtown Fargo business district. Jim Buus of Goldmark Schlossman Commercial Real Estate is the exclusive leasing agent.

For more information, please visit: NetREIT

About NetREIT, Inc.
Established in 1999 as a contrarian investment firm, NetREIT seeks out property acquisitions with hidden value. This can either involve financially distressed entities or those with property that is undervalued because of its poor condition. According to company research, real estate has performed historically well when measured against the S&P, DJIA, and bonds.

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Jack Heilbron
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