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June 8, 2016 Comments Off on City Center Realty Sells 336K Plaza Seven in MN Views: 305 Bay Area, California News, Massachusetts, Midwest, Minnesota, National News, Northeast

City Center Realty Sells 336K Plaza Seven in MN

City Center Realty Partners LLC (CCRP) and Angelo, Gordon & Co., have sold the Plaza Seven Office Tower, a 336,000-square-foot, Class A office building in downtown Minneapolis. Buyer Franklin Street Properties paid $82 million for the asset.

Plaza Seven on 7th Street is part of a mixed-use project that includes the Radisson Hotel. The office tower comprises floors 18-36 and includes 311 underground parking stalls.

The San Francisco-based CCRP acquired the office tower in 2013 when the property was 58% leased. The company invested nearly $5 million in capital improvements. Franklin Street, headquartered in Wakefield, MA, is planning an additional $2 million in upgrades.

Stephen Livaditis, Kenneth Glomb, and David Knapp of Eastdil Secured represented the seller in the deal.

Read More at Minneapolis Star Tribune

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