CHICAGO—The Twin Cities office market has long been one of the strongest of any secondary market. In 2013 and 2014, buyers attracted by one of the healthiest economies in the US flocked here and set records for investment. Now one of those investors has decided to put up for sale the region's most notable property.
Accesso Properties LLC of Hallandale Beach, FL has just named Holliday Fenoglio Fowler, L.P. to market for sale the IDS Center, a 57-story office tower totaling more than 1.43 million square feet in downtown Minneapolis.
HFF sold the architectural landmark to Accesso in 2013 and arranged acquisition financing on its behalf. HFF officials told GlobeSt.com that they could not provide comment on the proposed sale.
Heralded by the New York Times as “one of the finest skyscrapers built in any American city,” the IDS Center occupies a full city block on Nicollet Mall, the shopping and dining district at the core of the skyway pedestrian walkway system in Minneapolis. The iconic post-modern office tower was designed by the noted American architect Philip Johnson in 1972. In addition to office space, the 88% leased property includes the eight-story, glass-enclosed Crystal Court, a retail shopping center and urban park, and the separately owned 19-story, 281-room Marquette Hotel.
HFF senior managing directors Jeff Bramson and Jaime Fink and managing director Mark Katz will lead the investment sales team.
CHICAGO—The Twin Cities office market has long been one of the strongest of any secondary market. In 2013 and 2014, buyers attracted by one of the healthiest economies in the US flocked here and set records for investment. Now one of those investors has decided to put up for sale the region's most notable property.
Accesso Properties LLC of Hallandale Beach, FL has just named Holliday Fenoglio Fowler, L.P. to market for sale the IDS Center, a 57-story office tower totaling more than 1.43 million square feet in downtown Minneapolis.
HFF sold the architectural landmark to Accesso in 2013 and arranged acquisition financing on its behalf. HFF officials told GlobeSt.com that they could not provide comment on the proposed sale.
Heralded by the
HFF senior managing directors Jeff Bramson and Jaime Fink and managing director Mark Katz will lead the investment sales team.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
