Real estate investment trust to buy RBS building in downtown Minneapolis

January 30, 2013  |  Staff Writer  |  Print Article  |  Email this Article

KBS Real Estate Investment Trust III will pay $126.5 million for the RBS office building in downtown Minneapolis.

The key Minneapolis office building includes 678,045 square feet. Brookfield Office Properties is the seller of the property.

The building is home to 34 tenants, good enough for an 83-percent lease rate. RBC Wealth Management is the main anchor of the building, accounting for 270,000 square feet. The building also includes about 70,000 square feet of retail space, Gaviidae Common II.

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