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Thursday, November 20, 2008 Office
New York City-based Real Estate Capital Partners has acquired Phase I of Excelsior Crossing in Hopkins, Minn., for an undisclosed price from Opus Northwest. Tom Holtz and Steve Buss of CB Richard Ellis brokered the deal on behalf of the seller. Excelsior Crossing is a three-building office complex that contains 675,000 square feet. Phase I is a seven-story building situated on 7.4 acres of land on Excelsior Boulevard. It contains 247,495 rentable square feet. The building is currently 100 percent occupied to Cargill, an international provider of food, agricultural and risk management products. Real Estate Capital Partners acquired the building on behalf of IVG Institutional Funds GmbH, a German investment fund. Buss is a senior vice president of the Investment Properties Group and has been with CBRE since 1995. He recently brokered the $49 million sale of the Shoreview Corporate Center in Minneapolis. Holtz joined CB Richard Ellis in 1979 and is an executive vice president specializing in major investment transactions for single-tenant and multi-tenant office and industrial properties. In August, Holtz finalized the $180 million sale of the Fifth Street Towers in Minneapolis. Address: Excelsior Boulevard and Highway 169, Hopkins, Minn. Size: 247,495 square feet Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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