4/16/2007

Minneapolis firm spends $42.5 million for building in Eden Prairie

by

One Southwest Crossing

Minneapolis-based real estate investment firm The Geneva Organization bought a 237,000-square-foot office building at One Southwest Crossing in Eden Prairie, Minn. for a $42.5 million from Talcott Realty Investors in April.

The Twin Cities office of Colliers Turley Martin Tucker brokered the sale. The seller used Real Capital Markets to market this transaction.

The Class A office building was fully occupied at the time of the purchase and houses tenants ECA Marketing, Harmon Inc. and Cigna, which has recently renewed its lease and increased its space.

The building, constructed in 1986, used to house Supervalu Inc.

Talcott, based out of Hartford, Conn., purchased the building for $18 million in 2004, when it was only half occupied.

This is the second notable Twin Cities area purchase Geneva has been involved with in 2007. Earlier this year the company bought International Market Square, a 102-year-old office and showroom property just west of downtown Minneapolis.

Address: One Southwest Crossing

Size: 237,000 sq. feet

Built: 1986

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Filed Under: Office

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