BUYER ACQUIRES MINNEAPOLIS OFFICE BUILDING TO CONVERT TO HOTEL

MINNEAPOLIS — U.S. Hotel and Resort Management of Sioux Falls, S.D. has acquired an office building, located at 401 First Ave. N. in Minneapolis, for $2.7 million The Historic Warehouse District property contains 55,250 square feet. The buyer plans to develop the property into an upscale boutique hotel. Lou Suski and John Chirhart of Gaughan Cos./CORFAC International represented the seller, a local community bank, in the transaction. They also procured the buyer.