Minneapolis

R2 Companies is expanding its Midwest creative office holdings with acquisition of a 525,000 square-foot, 11-building portfolio in downtown Minneapolis & Milwaukee.

The acquisition of ABC is accretive to earnings and part of a plan to consolidate the building products distribution sector on a national scale, says Timothy Meyer, a co-founder and managing partner of Angeles Equity Partners.

The portfolio includes two well-located suburban office warehouse properties in Golden Valley and Hopkins that were 93-percent occupied at the time of sale.

The recently published IRS rules have a lot of people interested.

The campus is fully leased to the State of Minnesota.

This is HUSREF's second transaction in the Minneapolis market this year.

An increasing number of people want to live in urban neighborhoods, and former industrial sites can supply the necessary land.

The nearly 93,000-square-foot Whole Foods anchored center was purchased in a joint-venture partnership where Regency owns a 20% interest.