The iconic 277,044 square foot, 14-story Class A office building located in the heart of the dynamic Minneapolis/St. Paul 494 sub-market.
CBRE Capital Markets has arranged the sale of the iconic Minnesota Center office building to Altus Properties. Ryan Watts, Judd Welliver, Sonja Dusil, and Tom Holtz in CBRE’s Minneapolis office represented the seller, Minnesota Center JV, LLC.
“Situated in the heart of the 494 office submarket at the gateway to the France Avenue Corridor, the Minnesota Center is a legacy Twin Cities asset that attracted multiple potential suitors through a competitive marketing process. In an already active year for office investment sales, the successful sale of the Minnesota Center is a continued demonstration of the strength of the Twin Cites economy and the desirability of the market as an option for real estate investors to deploy capital,” said Mr. Watts.
The Minnesota Center is a 277,044-square-foot office building, located in Bloomington, Minnesota at the intersection of I-494 and France Avenue along the sought-after France Avenue Corridor. The building is currently 97 percent occupied and is a highly-amenitized Class A office asset featuring covered parking and underground executive parking, an on-site deli, newly-remodeled entrance, lobbies and common areas, and a new state-of-the-art conferencing center with adjacent kitchen area.
Altus Properties is a St. Louis-based private real estate investment and development firm with over 5.25 million square feet of office, industrial, retail and multi-family properties of which approximately 1.5 million square feet is located in the Minneapolis metropolitan area.
