Photo/Richard Tsong-Taatarii
The T3 modern timber office building in the North Loop of Minneapolis has been sold to Chicago-based firm LaSalle Investment Management, which purchased the property on behalf of its LaSalle Property Fund.
The 222,000-square-foot, mixed-use building was developed in 2016 by Hines. The purchase price was not immediately available Tuesday.
“This Class-A, modern timber office building is a perfect complement to the dynamic North Loop neighborhood, which has emerged as among the most attractive CBD [central business district] submarkets given its vibrant mixed uses and superb access to mass transit, local amenities and major entertainment venues,” said David Schreiber, managing director of acquisitions at LaSalle, in a statement. “T3 exemplifies the character and quality demanded by today’s tenants, while the property’s unique features and high occupancy position it well for strong long-term investment performance.”
T3’s largest tenant is Amazon, which recently said it plans to more than double its workforce in the building to 350 people.
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 Kristen Leigh Painter.
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