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Ryan Tapped to Manage City Center as Minneapolis MXU Changes Hands
Ryan Companies Real Estate Management has been retained by City Center 33 South Property LLC to manage City Center, a 1.6-million-square-foot mixed-use complex in Minneapolis’ CBD. The Minneapolis Star Tribune reported that the property has just traded to the LLC for $320 million after China-based HNA paid $315 million for it in late 2016.
“City Center has been a prominent and vital part of Downtown Minneapolis for over 35 years,” said Ryan’s Jeff Steinke. “We are delighted to bring our insights to the property to elevate the office and retail experience, and bring its value to new heights in alignment with the new Nicollet Mall.”
City Center, occupying nearly two city blocks in the center of Minneapolis, includes the 51-story 33 South Sixth Street tower, a 381,630-square-foot retail mall, a 687-stall attached parking garage and the Minneapolis Marriott. The Marriott is not included in the management agreement.
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