KBS Strategic Opportunity REIT announced today the acquisition of Marquette Plaza, a class A office tower in Minneapolis for $88.4 million.
Marquette Plaza has 15 floors totaling 523,000 square feet. The property also has an underground parking garage and direct connection to the Skyway, an enclosed sidewalk covering 9.5 miles.
“We’ve seen such a lure to the Minneapolis market in recent years, which is likely due to the large amount of economic investment in the area and employers’ desire to attract and retain top talent that want to work in a thriving, vibrant neighborhood,” said Shep Wainwright, senior vice president for KBS and asset manager for the property.