National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KBS Finds Minneapolis’ “Smile Building” Appealing
Newport Beach, CA-based KBS Strategic Opportunity REIT acquired Marquette Plaza, a Class A office tower in Minneapolis from FRM Associates LLC for $88.4 million. The architectural landmark is comprised of 15 floors totaling 522,656 square feet, and features a building facade with a distinct arch design that resembles a smile.
KBS’s Shep Wainwright says, “KBS is looking forward to further engaging with the property by adding planned improvements including a new tenant lounge, a state-of-the-art fitness facility, updated lobbies and common areas and a creative utilization of the lawn space.”
The former Federal Reserve Bank of Minneapolis HQ is located on 2.5 acres that includes an expansive 1.5-acre park, the largest green space in the Minneapolis CBD. It is situated at the cross-roads between the North Loop neighborhood and the Nicollet Mall, which is currently undergoing a $50-million renovation into a dynamic work environment with numerous entertainment and lifestyle options.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
