Rare Investment, Adaptive Re-Use Properties Available For Offers Starting June 1
Paul Donovan, Jaclyn May, Jeremy Striffler of Cushman & Wakefield’s Minneapolis-St. Paul office are accepting offers for the properties at 1667 Snelling Ave. N. in Falcon Heights, a rare investment, redevelopment or adaptive re-use opportunity, beginning immediately.
The Cushman & Wakefield team is representing TIES, a Minnesota-based educational technology solutions collaborative owned by 48 member districts, in the disposition of the properties in Falcon Heights, on the southwest corner of Snelling Avenue and Larpenteur Avenue West.
“1667 Snelling represents a quality investment or redevelopment opportunity for the right buyer,” said May. “The property is in an exciting location and presents a multitude of possibilities for its next owner.”
The site is rich with history and unique character. The property served as an office for the Farmers Union Grain Terminal Association and opened in January of 1947. The GTA was an outgrowth of earlier organizations, including the Equity Cooperative Exchange (former 1908), the St. Paul Grain Exchange (1914), the Farmers Union Terminal Association (1926), and the Farmers National Grain Corporation (1930s).
The properties are set across three-parcels and include a four-story former office building and data center, and a skyway attached conference/event center. The 106,404-square-foot (sf) main office building was constructed in 1946/1957 and the 55,084-sf conference center was built in 2015. The site totals 6.4 acres, including some undeveloped land to the west of the buildings.
The TIES campus is mere blocks north of the Minnesota State Fairgrounds and Como Regional Park, and are within miles of the future site of Allianz Field, the booming Prospect Park neighborhood and the University of Minnesota.
Offers for the TIES properties are due to Cushman & Wakefield by July 31. Requests for the Offering Memorandum can be made to Jeremy Striffler at 612-305-2108 or Jeremy.Striffler@cushwake.com.