9/25/2007

Minnesota office property fetches $47.15

by
Ryan Cos. has sold One Marketpointe, the first office building in its Marketpointe Office Park in Bloomington, Minn., for $47.15 million to McMorgan & Co..

The 236,000 square foot building was built in 2000 and is 100 percent occupied with the largest tenant being United Healthcare Systems, a subsidiary of UnitedHealth Group.

Ryan has broken ground on the 240,000 square foot Two Marketpointe, which will be anchored by CB Richard Ellis Inc.

McMorgan is a San Francisco-based real estate investment adviser.

Ryan Cos. is a commercial real estate firm specializing in design-build, development and real estate management services.

Address: 4300 Marketpointe Dr., Bloomington, Minn.

Size: 236,000 square feet

Built: 2000

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Filed Under: Office

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