The deal closed on Friday, March 9. Jeff Dunne, team leader of CB Richard Ellis' Tri-State Investment Team, represented Principal Financial, which is headquartered in Des Moines, IA.
James Tully, senior associate with CB Richard Ellis, says that the sale reduces Principal's commercial real estate holdings to just one office property Downtown. In the early 1990s, Principal Financial purchased six office properties from the Schulman Realty Group. In the past few years the company has sold off its office holdings here to take advantage of better market conditions.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
