SOURCE: Alliance Bank

May 01, 2008 12:09 ET

Alliance Bank Wins Best in Real Estate Award

Creative Thinking and Community Impact Led to Judges' Decision

ST PAUL, MN--(Marketwire - May 1, 2008) - Alliance Bank, a privately owned community bank with over $600 million in assets, announced that they were awarded the Best in Real Estate for "Redevelopment/Extensive Renovation -- Small, Office/Industrial" by the Minneapolis/St. Paul Business Journal. The award follows an extensive remodel project that was necessary when securing new space to relocate bank headquarters in downtown St. Paul.

"Alliance Bank had a St. Paul heritage spanning over 100 years," stated Eric Johansen, president Alliance Bank. "Remaining in St. Paul was a major consideration when selecting new space."

Working with Security National Properties, owner of the new building, to improve the property in order to help revitalize downtown St. Paul, was a significant factor in the judges' decision. At the time of signing the lease, the tenant rate was at 55%. Now, with building improvements as a result of being the anchor tenant of the Alliance Bank Center, the rate has increased to 75%.

Another factor in the judges' decision was the creative use of space. 20 Below Studio, the design architect, helped create a modern look while incorporating existing building elements such as converting the old bank vault into a conference room with safe-deposit boxes as wall décor. Reconfiguring the old drive-up to allow for client parking was another unique feature that was important in the decision to secure the space. The move doubled the size of office space, with retail banking on the first floor and business and private banking on the 15th floor. The final result was a contemporary design that included client amenities and community spaces with room for future growth.

Mike Sullivan, interior designer with 20 Below Studio, stated, "Everyone from Alliance Bank on the planning committee did a great job steering us in the direction that led to the new space. It was a remarkable team effort."

On April 10th, Alliance Bank also received recognition at the 2008 International Interior Design Association (IIDA) Northland Chapter's FAB Awards as the Best Small Commercial design project.

About Alliance Bank

Alliance Bank is a privately owned community bank with assets in excess of $600 million. Alliance Bank provides highly integrated commercial, agricultural, private and personal banking services through 11 locations in Minnesota and Wisconsin. Established in 1867, Alliance Bank delivers big bank expertise with community bank service. As a family owned bank, Alliance Bank is committed to remaining independent and providing personal interaction and timely decision making. From basic checking and savings products, to business loans, personal loans, sophisticated cash management and online banking services, Alliance Bank offers services to help companies and individuals succeed. Visit www.alliancebanks.com or call 1-888-959-9425 to learn more.

Contact Information

  • Contact:
    Debra Kosch
    Vice President - Marketing
    651-229-2873