Office W Minnesota

CBRE sells 385,000-square-foot headquarters building in Minnesota

CBRE sells 385,000-square-foot headquarters building in Minnesota,ph01

CBRE Capital Markets arranged the sale of the 385,000-square-foot Prime Therapeutics headquarters facility under construction in Eagan, Minnesota, for $98.5 million. Winnipeg-based Artis REIT was the buyer.

The sale includes the first two phases of the headquarters facility at 2900 Ames Crossing Road in Eagan’s Boulder Lake Business Park. The first building, totaling 225,000 square feet, became available for occupancy in September of 2018. The second 160,000-square-foot building is expected to be completed in 2019.

Ryan Watts, Sonja Dusil, Tom Holtz and Judd Welliver in CBRE’s Minneapolis office represented the seller, Eagan Heights LLC, a local partnership with United Properties as its developer.

Both buildings will be fully occupied by Prime Therapeutics, a pharmacy benefits manager owned by Blue Cross and Blue Shield.