Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

TractorWorks building fetches hefty price

Posted by: Janet Moore Updated: February 11, 2014 - 3:02 PM

The TractorWorks building, a signature commercial structure and parking ramp in the North Loop, has sold, and for a handsome price: $54.8 million.

TractorWorks LLC, an entity related to New York-based Goldman Sachs, purchased the renovated historic building from City Center Retail/AG 800 Washington LLC, a group tied to City Center Realty Partners LLC and New York-based Angelo Grodon & Co., according to a certificate of real estate value dated Feb. 7.

City Center Realty is a real estate investment firm specializing in development, redevelopment and the acquisition of urban real estate. It's based in San Francisco, but has strong ties to the Twin Cities.

Nationwide, the firm has developed and acquired more than $800 million of retail, office and mixed-use properties, spanning more than 3 million square feet, according to its website.

The 1910 structure, which has Richardsonian and Romanesque architectural details, was purchased by City Center in 2008 for $27 million. A former John Deere factory, it now features offices plus the Be'wiched Deli, Bar la Grassa and the North Loop Fitness Center.


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