CHICAGO, IL – HFF announced it has been named to market for sale the IDS Center (top left photo) on behalf of the seller, Inland American Real Estate Trust, Inc. Heralded by the New York Times as “one of the finest skyscrapers built in any American city,” the IDS Center is located on Nicollet Mall, an upscale shopping and dining district in the core of the skyway system in the Twin Cities.
The HFF investment sales team, representing the seller, is led by senior managing directors Jeff Bramson (middle right photo) and Jaime Fink (lower left photo), along with director Mark Katz.
“The IDS Center is an iconic asset totaling more than two million square feet and is the centerpiece of downtown Minneapolis,” said Jeff Manno, vice president of acquisitions for Inland American Business Manager & Advisor, Inc.
“The decision to market this asset for sale is consistent with the execution of our long-term strategy to reposition the portfolio and focus on retail, student housing and lodging investments.”
The award-winning 57-story post-modern building was designed by the influential American architect Philip Johnson in 1972.
“Given the stability of the Minneapolis market, the property’s high occupancy rate and the historically low interest rate environment, we feel this is the opportune time to be able to drive value on this asset,” said Jeffrey M. Bramson, senior managing director for HFF. “The property’s retail center, Crystal Court, serves as the crossroads of business and commerce in the central business district. Traffic counts of those walking through the center have often exceeded 50,000 people per day.”
For further information regarding Inland American, please refer to the company website at www.inlandamerican.com.
Contacts:
JEFFREY M. BRAMSON
HFF Senior Managing Director
(312) 528-3650
JAIME F. FINK
HFF Senior Managing Director
(312) 528-3650
MYRA F. MOREN
HFF Director, Marketing
(713) 852-3500
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