Office W Minnesota

Newmark Knight Frank sells 84,000-square-foot office plaza in Minnesota

Newmark Knight Frank sells 84,000-square-foot office plaza in Minnesota,ph01

Newmark Knight Frank closed the sale of Edina Business Plaza, a three-story, 84,380-square-foot office building at 7550 France Avenue South in Edina, Minnesota.

NKF Managing Director Peter Tanis and Senior Managing Director John McCarthy represented the seller, Edina Business Plaza, LLC and local operating partner SH Commercial Real Estate Services in the $12.8 million sale. The buyer was Minneapolis-based commercial real estate firm The Ackerberg Group.

The building’s prominent address, easy access to Interstate 494 and Highway 100, as well as its proximity to area retailers and restaurants made it attractive for both investors as well as tenants. It is currently more than 97 percent occupied, with a single vacancy.