Minneapolis, April 21 2016 – CBRE Capital Markets announced today it has sold 7500 Flying Cloud Drive, a highly visible 201,591-square-foot mid-rise suburban office tower in Eden Prairie on behalf of its owner.
The buyer is a joint venture including The Excelsior Group, based in St. Louis Park.
The Minneapolis-based Capital Markets team of Ryan Watts, Sonja Dusil, Tom Holtz and Steve Buss represented the seller.
The building is located at the intersection of Highway 212 and Interstate 494 in Eden Prairie and within one mile of a future light rail station on the Southwest Light Rail Transit line.
“This offering received a lot of attention from potential buyers and we expect similar investor interest in the suburban value-add office sector as we move forward into 2016,” said Ryan Watts, Senior Vice President at CBRE.
The nine-story suburban office tower was originally built in 1987 and has been subsequently renovated by Ryan Companies. It features a six-story atrium providing natural light throughout the lobby area. The sale includes a two-level parking deck. Other amenities for tenants include a conference room, fitness center and full-service café.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
