CBRE Completes Sale of Brooklyn Center Offices for $14.3 Million
March 23, 2017
Minneapolis – CBRE Capital Markets recently represented Stewart Capital Partners in the sale of the Brookdale Corporate Center I and II, a pair of office buildings in Brooklyn Center totaling approximately 230,000 square feet, to New York-based Sovereign Capital for $14.3 million.
Sonja Dusil, Ryan Watts, Judd Welliver, and Tom Holtz of CBRE’s Minneapolis office represented the owner. The sale closed March 23, 2017.
Brookdale Corporate Center I and II are a pair of six-story multitenant office buildings in Brooklyn Center, ten miles north of the Minneapolis Central Business District. The buildings, originally constructed in 1982 and 1985, have superior access and visibility with Interstate 94/694 and were renovated in 2014 with lobby, corridor, elevator, exterior landscape and building system upgrades.
Major tenants in the buildings include the University of Minnesota Physicians, Brooklyn Center Independent School District headquarters, Qualcomm, National American University, Aerotek, Kidney Specialists of Minnesota, and SavvySherpa, LLC. The buildings were 77 percent occupied at the time of sale.
CBRE will continue to manage the complex for the new owner, and Joe Conzemius from CBRE will join the team as the new leasing broker.