MINNEAPOLIS—As reported earlier this week in GlobeSt.com, many institutional investors want a piece of Minneapolis’ burgeoning real estate market, and another KBS-affiliated company has just joined the rush. Newport Beach, CA-based KBS Realty Advisors acquired Northland Center, a 465,168-square-foot office complex in suburban Bloomington, for $51 million. United Properties sold the property, which was 89% leased at closing.

The seven-story, two-building Northland Center sits at 3500 and 3600 American Blvd. West in Bloomington’s I-494 submarket. It was renovated in 2010 and now has a LEED-EB Silver-rating.

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