The record setting sale of the City Center office building in 2016 purchased by Chinese investor HNA Group opened the door for increased overseas investment within the Minneapolis CBD. The year failed to provide high value transaction volume among apartment buildings compared to the year prior. Notable hotel transactions however remained within close proximity to records with the second sale of the Hilton Towers within the last 6 years. A final price for the upcoming sale of the Macy’s building has yet to be released, however it is expected to clear the high-water mark for retail transactions set in 2013 when the Gaviidae Commons closed for $26.5M.

1. • The record setting sale of the City Center office building in 2016 purchased by Chinese investor HNA
Group opened the door for increased overseas investment within the Minneapolis CBD.
• The year failed to provide high value transaction volume among apartment buildings compared to the
year prior.
• Notable hotel transactions however remained within close proximity to records with the second sale of
the Hilton Towers within the last 6 years.
• A final price for the upcoming sale of the Macy’s building has yet to be released, however it is expected
to clear the high-water mark for retail transactions set in 2013 when the Gaviidae Commons closed for
$26.5M.
Source: JLL Research, Real Capital Analytics
Office space leads 2016 CBD sales volume,
while apartments lag
Minneapolis–St. Paul
Chart of the week: January 23, 2017
[CELLRANGE]
$10M
[CELLRANGE]
$142M
[CELLRANGE]
$9M
[CELLRANGE]
$315M (2016)
[CELLRANGE]
$40M (2017)
[CELLRANGE]
$155M (2010)
[CELLRANGE]
$109M (2015)
$-
$50
$100
$150
$200
$250
$300
$350
Office Retail Hotel Apartment
Millions
2016 Volume($)
Record Volume ($)
2016 Minneapolis CBD transactions and record sales
Previous record:
$300,000,000 (2015)
* New record