PRESS RELEASE: CBRE Announces The Sale of Excelsior Crossings

MINNEAPOLIS, MN - CBRE announces the sale of 9350 and 9380 Excelsior Boulevard totaling 501,603 square feet and located in Hopkins, Minnesota to Colony Financial, Inc. for $122,750,000.

The office buildings are each 7 stories and are part of a 3-building corporate campus fully leased to Cargill, Inc.  The Excelsior Crossings buildings have been Gold LEED Certified by the U.S. Green Building Council. Excelsior Crossing is Cargill’s newest campus and houses the largest concentration of Cargill employees in the Minneapolis metro. Cargill is the largest private company in the United States and has housed the company’s headquarters in the Minneapolis market for the last 130 years and has occupied the buildings since they were completed in 2008 and 2009.

The seller, Real Estate Capital Partners on behalf of IVG Institutional Funds GmbH, was represented by the CBRE Institutional Group in Minneapolis led by Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver. Since Real Estate Capital Partners’ inception, the company has invested over $10 billion in U.S. real estate for high net worth families and institutions. Investments have consisted of existing and to-be-built apartment, office, industrial, retail and mixed-use properties.

The Minneapolis based team of Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver focuses on the disposition of single-tenant and multi-tenant office and industrial properties. Steven, Tom and Ryan are part of the 85-member CBRE Institutional Group. In 2012, the Capital Markets enterprise of CBRE including the Institutional Group completed over $64.08 billion in combined total U.S. capital activity.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2012 revenue).  The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing, corporate services, property, facilities and project management, mortgage banking, appraisal and valuation, development services, investment management, and research and consulting. For more information, please visit the company’s web site at

TAGS: Investment