T3 building in North Loop sold

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.