The site also houses the control center for the MidwestIndependent Transmission System Operator. As MAPP's parentorganization, the not-for-profit entity monitors electrictransmission systems across fifteen Midwestern states and parts ofCanada.
Recently renovated at a cost of about $9 million, MAPP holds along-term net lease terminating in 2013. The lease has a five-yearrenewal option. GVA Worldwide officials say MAPP carries anA-/positive credit rating, and that net rents are scheduled to risesubstantially in 2007. The property has a $10-million fixed-ratenote that matures in 2012.
The one-story office building is being marketed nationally byGVA Worldwide member firms in New York and Minneapolis. JamesMurphy, executive managing director of GVA Williams in New York,and Louis Frillman, president of GVA Marquette Advisors inMinneapolis, lead the sales initiative.
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