Onward Investors has acquired the 31-story Ameriprise Financial Center in downtown Minneapolis. The 960,000-square-foot building, located at 707 2nd Avenue South, has served as the headquarters of Ameriprise Financial since its construction in 2000.

Soon to be vacant, the tower is well-located within the Minneapolis skyway system, providing direct access to the Minneapolis Club, Capella Tower, SPS Tower, and Baker Center. Onward is exploring a variety of options for the property, including converting all or some of the building to uses other than office.

“The purchase of the Ameriprise Financial Center is another demonstration of our desire to be an active participant in the recovery of downtown Minneapolis,” said Jon Lanners, Partner at Onward Investors. “We believe that now is a great time to be investing in the city’s future and look forward to engaging a multitude of stakeholders in the coming months as we re-imagine this well-known asset in the Minneapolis skyline.”