By Ioana Neamt, Associate Editor
CBRE recently announced the sale of Valley Creek Office Park, a three-building complex in Golden Valley, Minn. According to a news release, Minneapolis-based Frauenshuh Inc. purchased the 128,628-square-foot office park at an undisclosed sum.
Located at 8301, 8401 and 8501 Golden Valley Road, the office complex was built in 1998 and is currently 89 percent occupied. Tenants include mostly medical office users, with North Memorial Health Care as the anchor. The Class A Valley Creek Office Park features a state-of-the-art HVAC system, underground parking, an executive conference room and key card access security. Additionally, the park’s strategic location at the intersection of 169 and Highway 55 provides easy access to major employment centers and amenities.
Steve Lysen and Mindy Rietz of CBRE’s Minnesota-based Investment Properties Group represented the seller, in collaboration with the Auction.com online platform.
CBRE also managed the sale of the Williston Business Center in Minnetonka, a six-building flex portfolio totaling 354,730 square feet. The property, located at 3800 Williston Road, sold to St. Louis-based Eagle Ridge Partners L.L.C. for $17.7 million. The seller, Los Angeles-based CBRE Global Investors, was represented by the Minneapolis CBRE Institutional Properties Group, led by Steven Buss and Judd Welliver.
The Williston Business center was 93 percent occupied at the time of the sale, with major tenants including Cargill Inc. and St. Jude Medical. The industrial complex can be used either as office or warehouse space.
Images courtesy of CBRE