Office building sold in Minnetonka

Buyer founded by biz heavyweights

By janetmoore

January 17, 2012 at 10:12PM

A Minnetonka-based company has purchased an office building on Opus Parkway for about $23 million.


According to documents filed Tuesday in Hennepin County, Founders Properties LLC bought the 160,000-square-foot building, now home to uniform company G&K Services and a unit of UnitedHealth Group.


Founders Properties is a privately held company formed by two Twin Cities business leaders, Richard Schulze, founder of electronics retailer Best Buy, and Gerald Rauenhorst, founder of the real estate development firm Opus.


The firm's website says its current portfolio consists of about 100 office, industrial, retail and mixed-used properties throughout the United States.

The seller was Wells Reit II of Norcross, GA.

Janet Moore covers commercial real estate for the Star Tribune.

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