MINNEAPOLIS – Nov. 6, 2019 – CBRE recently represented a private equity group in the sale of Golden Hills Office Center, a 190,758-square-foot office building in Golden Valley, to Altus Properties, LLC of Clayton, Missouri.
Ryan Watts, Sonja Dusil, Judd Welliver, Tom Holtz and Bentley Smith of CBRE Minneapolis represented the Seller in the transaction.
“Averaging 95% occupancy for the past 15 years, Golden Hills has been a proven performer at the Northwest corner of 394 and Highway 100,” said CBRE’s Watts. “In addition to the asset’s strong historical occupancy track record, investors were attracted to the favorable outlook and the continued positive momentum in the West End micro-market as a whole. With its plentitude of live-work-play dynamics, the West End area has become a Minneapolis area poster child for the latest trend towards ‘urban-suburban,’ a location concept more recently starting to be recognized as ‘hipsturbia.’”
Golden Hills Office Center is a six-story class A office building located near the intersection of Interstate 394 and Highway 100. The property features premium finishes including a lobby with hardwood walls and geometric flooring, an outdoor patio area overlooking a water feature and views of downtown Minneapolis. The property is currently 93% occupied.
Ryan Watts, Sonja Dusil, Judd Welliver, Tom Holtz and Bentley Smith of CBRE Minneapolis represented the Seller in the transaction.
“Averaging 95% occupancy for the past 15 years, Golden Hills has been a proven performer at the Northwest corner of 394 and Highway 100,” said CBRE’s Watts. “In addition to the asset’s strong historical occupancy track record, investors were attracted to the favorable outlook and the continued positive momentum in the West End micro-market as a whole. With its plentitude of live-work-play dynamics, the West End area has become a Minneapolis area poster child for the latest trend towards ‘urban-suburban,’ a location concept more recently starting to be recognized as ‘hipsturbia.’”
Golden Hills Office Center is a six-story class A office building located near the intersection of Interstate 394 and Highway 100. The property features premium finishes including a lobby with hardwood walls and geometric flooring, an outdoor patio area overlooking a water feature and views of downtown Minneapolis. The property is currently 93% occupied.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
