Colliers and Cushman & Wakefield recently completed the sale of the 13305 12th Ave N. office building in Plymouth, Minnesota. The purchase agreement signed at the end of September and closed Dec. 18.
The 31,780-square-foot office building, which included 2,500 square feet of warehouse/storage space, stood out as a prime investment opportunity. Awarded the Building of the Year by NAIOP in 2016, the property boasts state-of-the-art features, including an extensive glass line, excellent LED lighting, and a cutting-edge audio/visual system. The building’s appeal extends outdoors with an inviting patio and a spacious deck on the second floor.
Representing the buyer was Jason Sell of Cushman & Wakefield, while the seller, a local partnership, was represented by Nick Leviton and Laura Moore of Colliers.
The property, previously occupied until the onset of the Covid pandemic, maintained its pristine condition, including furniture, making it a turnkey solution for the new owners. The successful sale of the building reinforces the ongoing demand for well-maintained office spaces, as businesses opt for ready-to-go properties over the complexities of new construction.
“We received multiple offers on the building, indicating a strategic shift in the market as purchasers recognize the cost-effectiveness of acquiring a fully equipped property rather than investing time and resources in new construction,” said Nick Leviton of Colliers.
The completion of this sale emphasizes the resilience and adaptability of the commercial real estate market, showcasing that, even in the face of evolving work trends, there remains a strong appetite for quality office spaces.
