September 27, 2016 (Madison, Wis.) – SARA Investment Real Estate, a full-service commercial real estate investment and brokerage firm, has closed on the purchase of River Park Plaza, an eight-story office building in St. Paul, Minnesota.
The property has 328,947 SF and is located at 10 River Park Plaza along the Mississippi River. The purchase is SARA’s first acquisition in the St. Paul market.
“From its high-quality tenants to its highly-desirable location, 10 River Park Plaza will serve as a great addition to our growing portfolio in the Twin Cities region,” said Traci Dalsin, President of SARA Investment Real Estate. “Its iconic views and recognizable façade are a testament to the level of care provided by its previous owner; this is a strong asset for our investment partners and an accurate representation of the caliber of properties we pursue.”
The building currently is 88% occupied with high-quality office tenants including the St. Paul Pioneer Press, Comcast and Gillette Children’s Specialty Healthcare. Recent enhancements include an upgraded lobby and common area, as well as improvements to conferencing services and a fitness center.
About SARA Investment Real Estate
With offices in Madison, Milwaukee, Minneapolis and St. Louis, SARA Investment Real Estate attains, develops, leases, finances and manages high quality properties throughout the Midwest. SARA builds successful partnerships with investors, tenants, financial partners, other developers and employees to complete and manage quality projects. The firm provides commercial real estate wealth management solutions to select investors through a network of wealth management partners. SARA, founded in 1997, manages properties valued at more than $230 million and growing.
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