MINNEAPOLIS MIXED-USE OFFICE BUILDING FOR $118M

MINNEAPOLIS — Newport Beach, Calif-based KBS Real Estate Investment Trust has acquired RBC Plaza, a 678,045-square-foot office building in downtown Minneapolis for $118 million. RBC Plaza is a 40-story building that includes 609,368 square feet of office space and 68,677 square feet of retail and amenity space above an underground parking structure. At the time of sale, the building was 83 percent occupied. KBS has hired Cushman & Wakefield/NorthMarq to manage and lease the asset.