Minneapolis CBD leads Q4 office sales volume The largest overall deal so far in the quarter was the sale of Canadian Pacific Plaza to Artis REIT of Winnipeg for $68.6 million ($174 p.s.f.). The Minneapolis CBD building is over 98 percent leased with many large tenants locked into long-term leases. Canadian Pacific Railway, its anchor and namesake tenant, occupies a quarter of the building with a lease that expires in 2027. Since 2010, Artis has been a major contributor of FDI into the region as the trust aggressively expands its portfolio in Minnesota. The Southwest is proving to be the most desirable suburban submarket for investment. Just closed, New York-based DRA Advisors partnered with San Francisco-based City Center Realty to purchase the 450,000-square-foot Wells Fargo Plaza for $52 million ($120 psf) in cash. Located near Interstate 494 and France Avenue, the Class B building is currently 75 percent leased.

1. Minneapolis–St. Paul
Minneapolis CBD leads Q4 office sales volume
Chart of the week: December 21, 2015
• The largest overall deal so far in the quarter was the sale of Canadian Pacific Plaza to Artis REIT of
Winnipeg for $68.6 million ($174 p.s.f.). The Minneapolis CBD building is over 98 percent leased with
many large tenants locked into long-term leases. Canadian Pacific Railway, its anchor and namesake
tenant, occupies a quarter of the building with a lease that expires in 2027. Since 2010, Artis has been a
major contributor of FDI into the region as the trust aggressively expands its portfolio in Minnesota.
• The Southwest is proving to be the most desirable suburban submarket for investment. Just closed,
New York-based DRA Advisors partnered with San Francisco-based City Center Realty to purchase the
450,000-square-foot Wells Fargo Plaza for $52 million ($120 psf) in cash. Located near Interstate 494
and France Avenue, the Class B building is currently 75 percent leased.
Sources: JLL Research, Real Capital Analytics
$4,500,000
$7,850,000
$31,501,765
$37,250,000
$71,000,000
$136,815,185
Southeast
Northeast
West
St Paul CBD
Southwest
Minneapolis CBD