Six-Building Complex Adds Diversity to Minnesota Holdings
June 2, 2015 (Minneapolis, MN) – Sara Investment Real Estate, LLC, a full-service commercial real estate investment and brokerage company, has closed on the purchase of the Crown/Frost buildings in the Crown Center complex in Northeast Minneapolis. The purchase, the firm’s fourth in Minnesota, includes the 40,000-square-foot Frost building, along with five others.
The acquisition from developer Scott Tankenoff of Hillcrest Development LLLP enhances Sara Investment Real Estate’s investment in the Minneapolis market and illustrates the firm’s continuing growth here and throughout the Midwest.
“We are excited to expand our presence in the Minneapolis market,” said Traci Dalsin, President of Sara Investment Real Estate, headquartered in Madison, Wisconsin. “This is a very special property in one of the most desirable areas of the city.
“Northeast Minneapolis has it all – creative development, entrepreneurs and lots of positive momentum. We’re delighted to be here.”
Tenants within the six properties featured in the Center include a diverse group of companies, all tied together by a community green space called the Shed. Decorated with 3,345 square feet of pollinator-friendly plants, the Shed is a constant reminder of the redevelopment work that has been done at the property, as well as the potential for continued development it offers.
“Hillcrest did a great job with the property,” Dalsin said. “It’s been beautifully redone. We look forward to more investment in the Minneapolis market.”
The firm’s other properties in Minnesota are a multi-tenant building in Edina leased by Arkray USA, Inc. and Barr Engineering, the Minnetonka West Office Building in Minnetonka and a multi-tenant retail property in Rochester.
About Sara Investment Real Estate, LLC:
With offices in Madison and St. Louis, Sara Investment Real Estate, LLC develops, leases, finances and manages high quality properties throughout the upper and lower 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 Investment Real Estate was founded in 1997, and owns and operates more than two million square feet in 25 cities valued at more than $200 million.
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