Oracle Centre in downtown Minneapolis sold
- Blog Post by: Janet Moore
- September 24, 2013 - 2:31 PM
The Oracle & International Centre, a top-notch office building located smack dab in the Minneapolis central business district, has been sold to a joint venture between New York-based Investcorp International and Minneapolis based Wildamere Properties, according to CBRE, which represented the seller.
Terms of the deal were not disclosed.
The 622,173-square-foot Oracle building is one block from Nicollet Mall and Target’s headquarters. The project has won the NAIOP “Award of Excellence”, and is currently 90 percent leased. Oracle USA, a division of Oracle Corp., occupies 45 percent of Oracle Centre along with other tenants The Lacek Group and Surescripts.
The seller was a a joint venture between CrossHarbor Capital Partners, LLC and WelshInves, and was represented by the CBRE Institutional Group in Minneapolis led by Ryan Watts, Tom Holtz and Steven Buss.
Janet Moore covers commercial real estate for the Star Tribune.
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