City Center Realty Partners Sells Class A Office Building in Twin Cities Suburb to Investment Company O’Shaughnessy Holding Company

The buyer will occupy the 45,277 square foot building at 7151 Metro Boulevard, part of the three-building complex “The E” in Edina, Minnesota

EDINA, Minn.--(BUSINESS WIRE)--Developer City Center Realty Partners, LLC (CCRP), in a joint venture with Contrarian Capital Management, announced it has sold a 45,277 square foot office building in Edina, Minnesota to investment group O’Shaughnessy Holding Company (OHC). The Class A building is part of the three-building, 11-acre office complex called The E, and is located at 7151 Metro Boulevard off Highway 100. The property provides immediate access to major highways and is a short distance to downtown Minneapolis. Brent Erickson at Newmark represented the seller and Brian Ginkel at Jones Lang LaSalle represented the buyer.

“Our company was looking for a signature property that would accommodate our growth,” said David Baer, Chief Operating Officer of OHC. “We appreciate the vision and cooperation of CCRP and Brian Ginkel in helping us secure this great building.”

CCRP retains ownership of the other two office properties at The E, both of which recently underwent extensive renovations. In 2021, the developer completed a full makeover of The E’s nine-story, 105,000 square foot anchor building. That $7.5 million dollar renovation modernized the property with an urban-inspired design and premium amenities. The building is now 50% leased, with companies including Mitsubishi HC Capital America, Relievant Medsystems and Employer Solutions Group. PCL Construction fully leases the third building at The E.

“We’re pleased to welcome another prominent company to join the roster of firms at The E,” said Eric Anderson, CCRP Executive Vice President. “We continue to see strong interest and leasing activity for the limited remaining available space at The E.”

CCRP owns and manages numerous real estate assets throughout the country. The development firm’s repositioning of the historic TractorWorks building in Minneapolis was a pioneering project as the North Loop district transformed from a manufacturing hub into one of the city’s most popular destination neighborhoods. Based in San Francisco, CCRP is also leading the development of 1.5 million square feet of several life science assets in the Bay Area, a hotbed for the biotech industry.

About City Center Realty Partners

City Center Realty Partners, LLC is a San Francisco-based real estate investment firm, specializing in integrated development and redevelopment for an evolving world. Nationwide, CCRP has developed and acquired more than $2 billion of life science, retail, office and mixed-use properties. For more information visit their website here.

About Contrarian Capital Management

Contrarian Capital Management (“CCM”) is an institutional investment manager formed in 1995. Its real estate strategy strives to achieve attractive risk-adjusted returns with real estate equity and debt investment opportunities spanning all U.S. property sectors. The real estate team looks to pursue mid-sized distressed and opportunistic opportunities generally overlooked by larger institutional investors. Contrarian’s ability to underwrite diligence and close transactions quickly, combined with a strong industry reputation for integrity, makes the firm a preferred counterparty for sellers and joint venture partners that require certainty of execution. For more information visit www.contrariancapital.com.