As reported in GlobeSt.com, the Minneapolis-based Opus Group, recently launched a six-story, mixed-use luxury apartment and retail development on W. Seventh St., and the warehouse district near downtown has already experienced a wave of redevelopment.

Furthermore, a light rail system now connects St. Paul to its counterpart across the river, giving its office users the ability to attract employees who live in Minneapolis. And these factors helped convince the owner of Wells Fargo Place, a 37-story, class A office tower in downtown St. Paul, put it on the market.

SARA has established footholds in many rising Midwest neighborhoods. In 2015, for example, the company acquired the Crown/Frost buildings in the Crown Center complex, a former factory in Northeast Minneapolis where airplane components were manufactured in WWII. The area has become one of the more vibrant sections of the city, home to redeveloped warehouse and industrial buildings that now house art galleries, shops, restaurants and offices.

ST. PAUL, MN—SARA Investment Real Estate, an investment and brokerage company based in Madison, WI, has lately been expanding throughout the Midwest region, and it just boosted that profile a bit more by purchasing River Park Plaza, an eight-story office building located along the Mississippi River in St. Paul, MN. The purchase is SARA's first acquisition in the St. Paul market.

“We currently are evaluating projects throughout the Midwest,” Traci Dalsin, president of SARA, tells GlobeSt.com. And “from its high-quality tenants to its highly-desirable location, 10 River Park Plaza will serve as a great addition to our growing portfolio in the Twin Cities region. Its iconic views and recognizable façade are a testament to the level of care provided by its previous owner; this is a strong asset for our investment partners and an accurate representation of the caliber of properties we pursue.”

The 328,947 square foot building at 10 River Park Plaza currently is 88% occupied by high-quality office tenants such as the St. Paul Pioneer Press, Comcast and Gillette Children's Specialty Healthcare. Recent enhancements include an upgraded lobby and common area, as well as improvements to the location's shared conference rooms and fitness center.

Although it is sometimes overshadowed by neighboring Minneapolis, downtown St. Paul has started to attract more attention, Dalsin adds. “The attractiveness of downtown St. Paul lies in the value of renovation and new construction projects underway across the area. From the construction of Minnesota United's Midway stadium to the revitalization of several multi-story office and hospitality projects, developers have targeted downtown St. Paul for continued growth in the coming years.”

As reported in GlobeSt.com, the Minneapolis-based Opus Group, recently launched a six-story, mixed-use luxury apartment and retail development on W. Seventh St., and the warehouse district near downtown has already experienced a wave of redevelopment.

Furthermore, a light rail system now connects St. Paul to its counterpart across the river, giving its office users the ability to attract employees who live in Minneapolis. And these factors helped convince the owner of Wells Fargo Place, a 37-story, class A office tower in downtown St. Paul, put it on the market.

SARA has established footholds in many rising Midwest neighborhoods. In 2015, for example, the company acquired the Crown/Frost buildings in the Crown Center complex, a former factory in Northeast Minneapolis where airplane components were manufactured in WWII. The area has become one of the more vibrant sections of the city, home to redeveloped warehouse and industrial buildings that now house art galleries, shops, restaurants and offices.