MINNEAPOLIS-JRK Investors, based in Los Angeles, has hired NorthMarq to handle the property management for five office and industrial assets here in the Twin Cities area. The 450,000-square-foot “Golden Corridor” portfolio is located in three communities in the western suburbs.

The properties include offices City West Financial Center in Eden Prairie and 55 West Financial Center in Plymouth. The industrial properties include Cedar Business Center and Olympia Business Center I and II in Bloomington, and Eden Woods Business Center in Eden Prairie. The properties are about 80% leased overall, says Andy Sundgaard, SVP of business development with locally based NorthMarq.

He says a small ownership partner with JFK in the properties was managing the sites previously. “It was in-house, basically, but they decided they wanted to go with go with a larger organization,” Sundgaard tells GlobeSt.com. “Their goals are to maximize the value, raise the occupancy to more than 90% and then sell them.”

The offices will likely fare somewhat better, as local experts are predicting positive absorption in the West and Northwest submarkets, Sundgaard says. “The industrial market continues to be relatively slow throughout the Twin Cities,” he says.