Frauenshuh represented two office-user clients (SRa and Fourteen Foods) both in need of space totaling roughly 25,000 square feet in the southwest Minneapolis Metropolitan Area. While assisting both clients with analyzing potential lease, purchase or new development locations, the nearly-vacant Primetech I building was identified. The property was only for sale in conjunction with the adjacent soon-to-be-vacant 15,000 square foot Primetech II building. Primetech I was also too large for either of these users to purchase and occupy the vacancies themselves. However, Frauenshuh was able to piece together a purchase through both users occupying parts of the building, resulting in a nearly fully-occupied office building at below-market rents for these two clients. In addition, Frauenshuh procured a daycare user for the Primetech II building to allow a sale of that property for a profit shortly after the acquisition, further lowering the underwriting of the overall acquisition and providing an amenity to the office users of Primetech I. Frauenshuh has provided property management for Primetech I and for the overall association since acquisition.

BUILDING SIZE

51,940 sq. ft.

PROJECT TYPE

Office Building

SERVICE PROVIDED

• Site Analysis

• Buyer Representation

• Seller Representation

• Project Management

• Property Management

COMPLETION DATE

February 2020