Singerman Real Estate Acquires the TractorWorks Building in Minneapolis, MN

MINNEAPOLIS--(BUSINESS WIRE)--A fund managed by Singerman Real Estate (“SRE”) has acquired the TractorWorks Building, a 350,000-square foot brick and timber creative office building, as well as the attached 640-stall parking ramp, in the dynamic North Loop neighborhood of Minneapolis, MN.

SRE plans to partner with City Center Realty Partners (“City Center”), who will also serve as property manager for the building. City Center brings a breadth of experience in Minneapolis, having managed the property since 2008. With a reset basis, the new partnership plans to inject capital to upgrade the property and build upon its rich history, while offering tenants attractive lease structures.

“We are very excited about the opportunity and have strong conviction in both the positive tailwinds of the North Loop and the unique characteristics of the TractorWorks building,” said Kiley Carter, Principal with SRE. “We look forward to working with a high-caliber firm like City Center on our shared goal of creating a highly-attractive destination for existing and prospective tenants and leasing existing vacancy at the property.”

The TractorWorks building consists of a six-story timber building, constructed in 1902 and an adjacent nine-story concrete building, constructed in 1910. Originally built as a regional sales and distribution center for John Deere, today the property serves as a creative office building benefiting from its tall ceilings, brick walls, and timber columns. Modernized office buildouts and amenities, including an 11,000-square foot fitness center, meeting rooms, and award-winning restaurants expertly complement the historic facade.

TractorWorks is located in the amenity-rich neighborhood of North Loop, where office tenants have flocked for its walkability and accessibility. “We are thrilled to make SRE’s first acquisition in Minneapolis,” said Tim Worley, a senior acquisitions professional for SRE. “We continue to seek additional investment opportunities in the Twin Cities, whether office or other property types, where we are bullish on the long-term fundamentals.”

About Singerman Real Estate

Singerman Real Estate, LLC is a Chicago-based opportunistic real estate investment firm with over $4.5 billion of assets under management. The firm has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. SRE focuses on maximizing risk-adjusted returns through investments in both debt and equity across all major asset classes including industrial, residential, hospitality, office, life science, and retail in addition to other niche real estate sectors. Currently, SRE is pursuing investments on behalf of SRE Opportunity Fund V, L.P. a 2025-vintage, fully-discretionary fund with $1.0 billion of commitments from institutional investors. For more information please visit www.singermanre.com.

About City Center Realty Partners

City Center Realty Partners, LLC is a San Francisco based real estate investment firm specializing in the development, redevelopment and acquisition of urban real estate. Nationwide, CCRP has acquired, developed and repositioned more than $2 billion of retail, office, and mixed-use properties, representing over 4 million square feet. CCRP capitalizes on over 70 years of combined experience of its principals in the commercial real estate industry to develop innovative solutions for complex assets. CCRP has had a local presence in Minneapolis since 2008 and has renovated and leased up over 1.5 million square feet. The CCRP team takes a hands-on approach, utilizing extensive market knowledge, development expertise, and considerable tenant relations to target and enhance prime urban real estate opportunities. Their flexible, responsive and nimble approach, combined with the actively engaged principals and a successful track record, allows CCRP to maximize the value in each of its projects.