CBRE Capital Markets Completes Sale of 101,500 SF Class A Office in Edina for $14.45M

CBRE Capital Markets arranged the sale of the Edinborough Corporate Center, a 101,568-square-foot Class A office building in Edina, Minnesota to Altus Properties for $14.45 million. 

Ryan Watts, Sonja Dusil, Tom Holtz and Judd Welliver in CBRE’s Minneapolis office represented the seller, EverWest Real Estate Partners. 

The seven-story Edinborough Corporate Center was built in 1986 as part of mixed-use development that includes Edina’s Edinborough Park, a one-acre indoor city park. Edinborough Corporate Center offers a best-of-class amenity package including covered parking, on-site deli, and a state-of-the-art conference and training facility. A tenant, Especially for Children, operates a childcare center within the building – a highly-desired amenity for the building’s workforce.

“Office properties in Edina compete extremely well within the broader 494 submarket and offer a complete live-work-play environment for occupiers,” said Mr. Watts, Senior Vice President. “Investors jumped at the rare opportunity to acquire the Edinborough Corporate Center because of its prime location and track record of success.”

The building was 91 percent occupied at the time of sale and has historically high occupancy. 

The office building is also connected to the 135-room Marriott Residence Inn hotel, renovated in 2012, and Brookdale Edina, a 203-unit luxury senior apartment complex.