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Lawson Commons Sells for $68M to Previous Owner
Frauenshuh Commercial Real Estate in Bloomington, MN has re-purchased Lawson Commons from Dallas-based Tier REIT for $68.4 million.
Frauenshuh previously owned the 436,000-square-foot office tower at 380 St. Peter St. in downtown St. Paul in 2001, when it acquired the property from the city of St. Paul, which was the developer.
Tier REIT, formerly known as Behringer Harvard, bought the building from Frauenshuh in 2005 for $84.5 million. Frauenshuh has been the asset’s property manager since its completion.
The property is 97% occupied.
Tier REIT considered Lawson Commons a non-strategic asset. As such, disposition was part of a strategic plan.
- ◦Financing
- ◦Sale/Acquisition
