BLOOMINGTON, MN—Frauenshuh Commercial Real Estate Group has purchased France Place, a nine-story office building here, for a reported $25 million.
The 204,245-sq.-ft. office is at 3601 Minnesota Drive, just off of France Avenue South. Tenants include Jostens, Inc., Bank of America, Waddell & Reed, All State Insurance, and Charles Schwab & Co. The property is about 86 percent occupied.
Scott Pollock, executive director at Cushman &Wakefield/NorthMarq, and his team worked with CBRE Global Investors, who managed the sale on behalf of Orange County Retirement System, Santa Ana, CA. The property was owned by France Place Corp. The Cushman team, which includes John McCarthy, executive director and Larissa Champeau, associate, also represented Principal Real Estate Investors in the sale of the nearby Southdale Square in Richfield, Minn. to Frauenshuh in November.
