MINNEAPOLIS-Inland American Real Estate Trust has closed on the $253-million sale of the IDS Center here to Beacon Real Estate Services of Hallendale, FL.
In a letter to tenants of the 57-story, 1,462,374-square-foot office tower on Thursday, Beacon states it was “attracted by the IDS Center's iconic position, not just in the Twin Cities, but throughout the national property market.”
The company also informed IDS tenants that it plans to add an “ extensively equipped” fitness center and a “number of capital improvements” to the property, according to the Star Tribune.
The office tower of the IDS Center is approximately 93%leased. The retail portion is fully leased with restaurants Basil's, Mission, Cosi and Peoples Organic, and retailers Hubert White, Gap and Banana Republic. See story in the Star Tribune.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
