Pioneer Acquisitions Buys 913,501 SF Office Portfolio in Downtown Minneapolis

MINNEAPOLIS — Pioneer Acquisitions, a Rye, N.Y.-based real estate investment firm, has purchased two office towers in downtown Minneapolis along with an 870-stall parking ramp. The buildings, 100 Washington and 111 Washington, total 913,501 square feet and are situated in the city’s Gateway District, bridging the central business district and the North Loop. The transaction marks Pioneer’s first investment in the Twin Cities market. Pioneer plans to refresh and modernize existing amenity areas, including the tenant lounge and ground-level terrace at 100 Washington. The firm has engaged Cushman & Wakefield to handle leasing and property management services. The buildings were 80 percent occupied at the time of sale. Ryan Watts of CBRE represented the undisclosed seller.