Midwest

SHOREVIEW, MINN. — JLL Capital Markets has brokered the $18.5 million sale of The Lex, a 124,925-square-foot office building in the Twin Cities suburb of Shoreview. Renovated in 2023, The Lex rises four stories. Managed by Eagle Ridge Partners, the property is currently 95 percent leased to a variety of tenants in the financial services, healthcare and technology industries. The Lex is positioned within the Shoreview Corporate Center, a mixed-use redevelopment that is home to three luxury apartment communities and two additional office properties. Colin Ryan and David Berglund of JLL represented the seller, Shoreview Ridge Office LLC. The buyer was not disclosed.

MINNEAPOLIS — Real Capital Solutions (RCS) has acquired 3701 Wayzata Boulevard, a 308,681-square-foot office property in the Urban West End neighborhood of Minneapolis, for $34 million. Situated on 25.8 acres overlooking Brownie and Cedar lakes, the nine-story asset is 99 percent leased and serves as the headquarters location for several companies such as Tactile Medical, SRF Consulting Group, Regis Corp. and MOBE. Originally developed as a corporate headquarters campus for Prudential and later occupied by Target Corp., the property underwent a comprehensive renovation and repositioning in 2019. Amenities today include a fitness center, conference facilities, a golf simulator, onsite café, outdoor gathering spaces, a rooftop patio, bike storage and direct access to regional trail systems.