MINNEAPOLIS (10/17/2017) – AtWater Group, LLC has closed another transaction for its client, Concorde Properties Group. The company has purchased the Valley Square Corporate Center, a multi-tenant office building in Golden Valley, AtWater and Cushman & Wakefield announced today.
Located at 7500 Olson Memorial Highway in Golden Valley, the three-story Valley Square property has ideal access to three major Twin Cities highways – Highways 55 and 169 and Interstate 394. The property is just south of Golden Valley Country Club and approximately five miles west of downtown Minneapolis.
“Valley Square was an interesting offering because it provides a steady mix of lease income and a chance to add even more value to an underutilized property in a solid location,” said Aaron Barnard, Senior Director for Cushman & Wakefield. Barnard represented AtWater and Concorde in the acquisition and will provide leasing services for the new owner. Cushman & Wakefield also will provide property management services.
Valley Square Corporate Center totals 81,932 square feet (sf), and amenities include a three-story atrium, training room, recently renovated common areas and heated underground parking.
Concorde Properties Group is an affiliate of Duluth, Minnesota-based AtWater Group. AtWater will act as asset manager on behalf of Concorde Properties.
Cushman & Wakefield has worked with AtWater since 2013, when it assisted in the company’s acquisition of the Normandale Place office building in Bloomington, Minnesota; Ridge Point Medical Building in Burnsville, Minnesota; and Park Glen Corporate Center in St. Louis Park, Minnesota. The firm handles leasing and property management for these buildings.
AtWater later awarded the firm management and leasing of four other properties in the Twin Cities, including:
- Concorde Executive Center: a 104,000 sf office building located at 6160 Summit Drive N. (Highways 100 and 694) in Brooklyn Center, Minnesota, with Class A finishes and a state-of-the-art energy management system.
- The Atrium: located adjacent to the Mall of America at 2626 E. 82nd St. in Bloomington, the nearly 90,000 sf Class B office property is just minutes from the Minneapolis/St. Paul International Airport and one block west of the metro transit terminal and light rail transit station.
- Penn American Center: This nearly 70,000 sf Class B office building is in a prime location at 2740 American Blvd W. in Bloomington.
- Long Lake Executive Center: a 67,159 sf office property located at 900 Long Lake Road in New Brighton, Minnesota, with Class A finishes and easy access to Interstate 694.
AtWater has made significant renovations to each of its properties in the Twin Cities metro, including upgrading to new heating/cooling systems, energy management, restrooms and building systems. Additionally AtWater continually improves the tenant experience with upgrades to common areas, providing additional amenities and increasing building sustainability.
“Our goal is to make our buildings the best quality they can be and energy efficient with the goal of saving operating costs for our tenants,” said Marva Beckman-Lasky, Vice President and Asset Manager for AtWater. “We want our tenants to reside in a building where they can enjoy their work days and be proud to greet their clients.”
Cushman & Wakefield now leases and manages eight properties totaling 645,000 sf on AtWater’s behalf.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
Adam Rae Voge
Cushman & Wakefield