JLL Capital Markets announced today that it has secured a joint venture equity investment for One Southwest Crossing, a five-story, 246,293-square-foot office building in the Minneapolis-area city of Eden Prairie, Minnesota.
JLL worked on behalf of Eagle Ridge Partners to secure the equity investment with Long Wharf Capital. The equity will be used for capital improvements and to re-tenant the property after the largest tenant vacates at the end of 2020.
Originally constructed in 1985, One Southwest Crossing offers large floor plates, an open atrium that can accommodate café options and open seating, and abundant on-site parking, all on an 8.3-acre site.
The property is located at 11095 Viking Drive in the Southwest submarket, which is the second largest office submarket in the Minneapolis/St. Paul metropolitan area. With excellent visibility and access from Interstate 494, the asset is within close proximity to executive housing, abundant retail amenities and the Minneapolis-St. Paul International Airport. In addition, One Southwest Crossing is conveniently located along the new Southwest Light Rail Transit Metro Green Line that is set to deliver in 2023.
The JLL Capital Markets team representing Eagle Ridge Partners was led by Managing Director Matthew Schoenfeldt, Senior Director Christopher Knight and Senior Managing Director Colin Ryan.
