MINNEAPOLIS, MN-Beacon Investment Properties of Hallandale, FL is in contract to acquire the 57-story IDS Center here.
Beacon has signed a contract to purchase the office building for about $255 million, according to the Minneapolis-St. Paul Business Journal.
The current owner of the 1.2-million-square-foot property, Inland American Real Estate Trust, put the property on the market for sale last summer. The Oak Brook, IL-based firm purchased the IDS Center for $277 million, the newspaper reported.
Sales talks last year with Winnipeg, Manitoba-based Artis Real Estate Investment Trust to acquire the property ended in December without a deal being reached. See story in the Minneapolis-St. Paul Business Journal.