Minneapolis-St Paul
Chambers Acquires Interests in 17 JV Assets from Duke Realty
Chambers Street Properties has acquired the remaining interests in 17 properties it owned in a JV with Duke Realty for a reported $98.6 million as Duke continues to divest many of its office holdings to focus more on industrial assets.
Campbell Mithun Considers Move from Namesake Tower
After residing at the Campbell Mithun Tower in Minneapolis since 1985, Campbell Mithun could move out after the advertising agency has started looking at various real estate options in downtown Minneapolis.
City Center, Angelo Gordon JV Buys 320 KSF Office Space in Minneapolis
A JV of City Center Realty Partners and Angelo, Gordon & Co. has acquired the 320,000-square-foot office portion of the Plaza Seven building at 45 S. Seventh St. in downtown Minneapolis.
FedEx Plans New $20M Facility in Maple Grove; Life Time Fitness Extends Lease at Target Center
FedEx is planning to build a new $20 million sorting and distribution center in Maple Grove. The new 276,400-square-foot facility is expected to open in 2014 and will replace the smaller facility FedEx leases in Brooklyn Park for its SmartPost business
KBS REIT III Acquires 40-Story RBC Plaza for $118.1M
KBS Real Estate Investment Trust III recently announced the acquisition of the 678,045-square-foot RBC Plaza. The Newport Beach, Calif.-based public non-traded REIT purchased the downtown Minneapolis mixed-use office building for $118.1 million (net of closing credits).
KBS REIT III Buys Downtown Minneapolis Office Building for $118M
KBS Real Estate Investment Trust III has acquired the RBC Plaza, a 678,045-square-foot, mixed-use office building in downtown Minneapolis, from Brookfield Office Properties for $118 million.
KBS Closes on Acquisition of 228-Unit Eden Prairie M-U Community
Newport Beach, Calif.-based KBS Legacy Partners Apartment REIT has closed on its first acquisition in 2013: Watertower Apartments. The 228-unit mixed-use community, located in Eden Prairie, Minn., is situated close to I-494 and Highway 212 and just 16 miles southwest of downtown Minneapolis.
$78M Duluth Airport Terminal Opens for Passengers
After more than four years in the works, a new passenger terminal at Duluth International Airport opened for public. The new state-of-the-art facility cost $78 million to build and features lots of glass and natural light.
Sears Plans Major Redevelopment Project at St. Paul Site
Developers announced big plans for the site surrounding the St. Paul Sears store near the State Capitol. Redevelopment plans call for new retail, an office building as well as residential space.
Opus Breaks Ground on Second Downtown Minneapolis Luxury Apartment Complex
By Gabriel Circiog, Associate Editor Opus Development Corp. recently announced plans to begin development and construction of a new boutique luxury residential apartment complex in downtown Minneapolis. The project, dubbed VÉLO, French for “bicycle,” will be owned by Twin Cities-based real estate investment company Sentinel Management Co. Located at 103 N. Second St. In the […]