The 22 buildings, all in the Twin Cities area, includes the six-building Parkdale Office Park, located at Interstate 394 and Highway 100 in St. Louis Park, MN, and the 16-building Pentagon Office Park of Edina, MN, located at Interstate 494 and Highway 100.Wayzata Properties purchased Parkdale and Pentagon Office Parks, along with the 501 Marquette building in downtown Minneapolis in January from New York-based Colonnade Properties.
Parkdale and Pentagon Office Parks anchor major freeway intersections along the central Highway 100 corridor, says Bill Rothstein, vice president of United Properties' office brokerage.
The six office buildings in the Parkdale complex total 556,000 sf and are about 80% occupied, including tenants such as Universal Music, MQ Software, Group Health, CPP North America, Northstar Title and General Electric.
The Parkdale complex includes Parkdale Plaza is a five-story, 209,000-sf building; Parkdale Center is a seven-story, 197,000 sf building; and Parkdale I, II, III and IV are each three-story buildings totaling 150,000 sf. The Parkdale leasing team includes Bill Rothstein and Peter Fitzgerald.
The 690,000-sf Pentagon Office Park in Edina is the first planned office park in the Twin Cities and was built between 1963 and 1970. The Park includes 15 three-story buildings ranging from 12,000 sf to 50,000 sf and one six-story building with 70,000 sf. Major tenants include McGraw Hill, MLT Vacations, AIG Insurance and Fidelity Bank. The Pentagon leasing team includes Jim Jetland, Dan Wicker and Tom Sampair.
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