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Fifth Street Towers Sells for $118M

MINNEAPOLIS-CB Richard Ellis Investors buys the one-million-sf class A office building. Two partnerships called Property Minnesota One LLC and Property Minnesota Two LLC sell the marquee asset.

By Jim McCartney | Updated on September 07, 2004

MINNEAPOLIS-Fifth Street Towers, a marquee one-million-sf class A office building, has been acquired by CB Richard Ellis Investors for $117.5 million. The New York office of Holliday Fenoglio Fowler LP closed the sale of Fifth Street Towers on behalf of the seller, two Minnesota real estate partnerships called Property Minnesota One LLC and Property Minnesota Two LLC.

Senior managing directors Glenn Whitmore and Joe Morningstar and managing director Andrew Scandalios of Holliday Fenoglio Fowler, along with Northstar Partners marketed the property. The seller was advised by ING Clarion Partners.

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