According to a report in the Minneapolis/St. Paul Business Journal, the property has a vacancy rate of 25%. The large amount of empty space is due mostly to the expiration of Qwest Communications International Inc.'s lease. The company occupied 200,000 square feet, on floors 4 through 12.
London-based Strategic Real Estate Advisors purchased the property for $186 million in 2007. CB Richard Ellis Investors Inc., the building's seller, purchased the property in 2004 for $117.5 million.
Colliers Turley Martin Tucker's Dick Keller will head the leasing team. Atlanta-based Carter Real Estate will continue at the property's building manager.
To read the story in the Minneapolis/St. Paul Business Journal click here.
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