CCRP Purchases Three-Building Office Complex in Edina, Minnesota in Sale-Leaseback with Regis

EDINA, MINN. — City Center Realty Partners (CCRP), in a joint venture with Contrarian Capital Management, has purchased a three-building office complex in Edina. Seller Regis Corp. will lease back a portion of the 180,000-square-foot campus through part of 2020. The 11-acre property is located on Metro Boulevard. Marc Nanne and Steve Buss of JLL represented CCRP in the transaction. CCRP plans to renovate two of the buildings. The 105,000-square-foot, nine-floor 7201 Metro Boulevard building will be leased back to Regis through May 2020 and thereafter renovated for multi-tenant occupancy. Regis is also leasing back a portion of 7151 Metro Boulevard through March 2020. That three-story building will also undergo a renovation. The third building, 7101 Metro Boulevard, is 85 percent occupied by PCL Construction.