A fund sponsored by CBRE Global Investors has acquired the Millwright Building in Minneapolis.
The creative office building, located at 533 South 3rd Street in Downtown Minneapolis, spans 173,455 square feet across four stories. The acquisition is part of the fund’s broader strategy to invest in high-quality assets in target office markets across the United States.
Ranging from 28,000 square feet to 40,000 square feet, the property’s large, open floorplates can efficiently accommodate dedensification efforts, and the building’s low-rise configuration makes all floors accessible via stairways as an alternative to the three passenger elevators. Tenant amenities include first-floor collaborative space, bike storage, locker rooms with shower facilities, onsite parking, Skyway access and a private tenant balcony. The property, which was built in 2017, is currently 97 percent leased to three tenants.
“The Millwright Building offers modern, loft-style space tha
