CenterPoint Energy Announces Acquisition of New Facility; Hines REIT Sells $67M Portfolio

By Gabriel Circiog, Associate Editor

Houston-based CenterPoint Energy recently announced it has closed on the purchase of a new 100,000-square-foot facility in Minneapolis.

Located at 505 Nicollet Mall, the new location will house more than 300 natural gas employees from two locations but primarily from leased space at LaSalle Plaza. The company also announced it is working with Meet Minneapolis, Convention & Visitors Association to develop a strategy for a new Visitor Information Center that will be located in the retail space.

CenterPoint Energy will seek Silver LEED certification for its new location. The company expects to move to its new location during the first quarter of 2015.

“We chose 505 Nicollet because of its downtown location, which is central to our natural gas operations,” said Joe Vortherms, vice president of gas operations for CenterPoint Energy in Minnesota. “We are looking forward to enhancing our efficiency and productivity at a strategically located facility, and it reinforces our commitment to downtown Minneapolis.”

In other real estate news, the Minneapolis/St. Paul Business Journal reports Hines REIT has closed on the $67 million sale of a 625,000-square-foot portfolio of office/warehouse buildings in the Twin Cities.

The portfolio, acquired by Greenfield Partners, includes Golden Hills Business Park I, II & III in Golden Valley, Westside Business Park in Hopkins, University Crossing in St. Paul and Edenvale Executive Center A&B and Valley Gate in Eden Prairie. CBRE Group brokers Steve Buss, Tom Holtz, Judd Welliver and Ryan Watts assisted Hines with the sale.

Logo Courtesy of: www.centerpointenergy.com