MINNEAPOLIS—San Francisco-based City Center Realty Partners LLC, partnered with Angelo, Gordon & Co., has acquired the 19 office floors of the Plaza Seven building in the downtown here for an undisclosed amount.
The office building occupies floors 18-36, about 320,000 sq. ft., of the mixed-use tower located in the Nicollet Mall corridor and connected to the city’s skyway system. In addition to the office building, the Plaza Seven tower includes retail and a hotel, which is undergoing renovations to become a Radisson Blu. The acquisition includes the building’s heated underground garage with 315 parking spaces.
City Center plans to undertake an extensive elevator modernization project for the building, as well as making other building improvements. City Center Real Estate Services, an affiliate of CCRP, will manage the new property, with Jones Lang LaSalle leasing the office space.
Sigurd Anderson, a founding partner with the buyer, says in a statement that his firm “is thrilled to add this prime property to our growing portfolio of assets throughout the country.” The company’s other properties in the city are the 350,000-sq.-ft. TractorWorks building and the former Superior Plating site, a 5-acre parcel of land acquired last June.