Zuru Acquires Former United Properties Headquarters In Minneapolis For $4.15M

United Properties has sold its former headquarters, a 26,703 sq ft office space located at 651 Nicollet Mall in the Minneapolis market. The property, situated in the Gaviidae Common mixed-use building, was purchased by Zuru for a total of $4.15 million. The sale price translates to approximately $155 per square foot. This transaction comes after the recent $225 million sale of the RBC Gateway tower and marks a rare increase in downtown Minneapolis office sales following a period of scarcity.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $4,150,000
• Address: 651 Nicollet Mall
• Market: Minneapolis

The buyer, Zuru, has acquired the office space previously owned by United Properties. The seller's representative in this deal was Chris Wold from United Properties. Tom Tracy, from Cushman & Wakefield, acted as the broker for this transaction. This sale represents a notable transaction in the Minneapolis market, demonstrating increased activity in downtown office sales.