Ten Capital Management completed the acquisition of Atria Corporate Center in the Minneapolis suburb of Plymouth, Minnesota.
The highly-amenitized property is a 358,941-square-foot Class-A, LEED Gold building built in the late 1980s and substantially renovated in 2017. Atria offers food service, a complimentary coffee bar, fitness center, locker room with showers, training center, updated common areas, on-site management, multi-level parking deck and underground heated parking.
“Our focus has been and will always be to seek excellent real estate at a fair price, with high margins of safety in place,” said Ben Adams, chief executive officer of Ten Capital Management. “In this case, our margin of safety is a function of acquisition price, the quality and stability of in-place cash flows, the high degree of operational efficiency and flexibility it provides tenants of all sizes to have access to best-in-class amenities at fair rental rates in space that is highly customizable to fit specific tenant requirements.”
