Syndicated Equities Acquires Office Property In Minnetonka From Buhl Investors For $23 Million

Syndicated Equities acquired an office asset located at 10900 Red Circle Drive in Minnetonka, MN for $23 million. The property encompasses 104,647 square feet and was sold at a price per square foot of $220.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $23,000,000
• Address: 10900 Red Circle Drive
• Market: Minnetonka, MN
• Seller: Buhl Investors
• Buyer: Syndicated Equities
• Broker: Colin Ryan - JLL
• Square Footage: 104,647
• Price per Square Foot: $220

Buhl Investors sold the property after undergoing renovation and achieving full lease-up to Legrand AV, following their acquisition of the asset for $6.5 million in 2022. The deal was brokered by Colin Ryan from JLL, reflecting a strategic move within the Opus Business Park sector.