Represented by Colliers International, Smiths Medical has sold its former headquarters building in Arden Hills, Minnesota, to developer Forum Equity Partners.
Forum Equity Partners, which closed on the 165,000-square-foot office-tech space, has plans to renovate and reposition the building back into a multi-tenant office flex building.
Smiths Medical, a unit of London’s Smiths Group PLC, manufactures and sells medical devices that include drug-infusion pumps and consumables to hospitals and surgical centers. The company had outgrown the Arden Hills location and in December of 2014 announced plans to relocate to a new build-to-suit corporate headquarters in Plymouth, Minnesota.
The investment sales team from Colliers International|Minneapolis-St. Paul, along with Michael Gelfman, vice president in the office brokerage division at Colliers, represented Smiths Medical in the disposition of the former headquarters.
