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Renovated MAPP Building Hits the Market

ST. PAUL-Compass Financial of Little Rock, AR hires GVA Worldwide Investments to sell newly renovated, 120,797-sf office building located at 1125 Energy Park Dr. Mid-Continent Area Power Pool has nine years remaining on its lease, with a five-year option.

By Jim McCartney | Updated on July 16, 2004

ST. PAUL-GVA Worldwide Investments, a unit of GVA Worldwide, has been hired by Compass Financial of Little Rock, AR to sell “The MAPP Building” a newly renovated, 120,797-sf office building located at 1125 Energy Park Dr. The property serves as headquarters for the Mid-Continent Area Power Pool, a voluntary association of electric utilities that pools generation and transmission services in the Upper Midwest.

The site also houses the control center for the Midwest Independent Transmission System Operator. As MAPP’s parent organization, the not-for-profit entity monitors electric transmission systems across fifteen Midwestern states and parts of Canada.

Recently renovated at a cost of about $9 million, MAPP holds a long-term net lease terminating in 2013. The lease has a five-year renewal option. GVA Worldwide officials say MAPP carries an A-/positive credit rating, and that net rents are scheduled to rise substantially in 2007. The property has a $10-million fixed-rate note that matures in 2012.

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