Jones Lang LaSalle Incorporated: A two-building office campus in suburban Minneapolis is trading for $23.46M

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MINNEAPOLIS, February 24, 2022 –JLL Capital Markets today announced the closing of the $23.46 million sale of 11000 Viking Dr., a two-building corporate office campus totaling 258,850 square feet in Eden Prairie, Minnesota.

JLL represented the seller, Shutterfly, LLC, and procured the buyer, Tempus Real Estate Partners.

11000 Viking Dr. has immediate visibility and access to Interstate 494 in the southwest suburbs of Minneapolis. The area surrounding the office campus is home to a highly skilled and educated workforce.

The office campus currently consists of a four-story “West Building” which was constructed in 1997 and a five-story “East Building” which was constructed in 2004, connected by a two-story “Link” building. floors. The Town of Eden Prairie has approved the demolition plan for the vacant “West Building” and this space will be used to establish native grasses and wildflowers. The current “liaison” building will be renovated into a main entrance and will include patio seating overlooking the newly established native planting area. Additionally, through a partnership with the Town of Eden Prairie, an eight-foot paved pathway along Viking Drive will be constructed by the developer as part of the overall site alterations.

The “east building” will continue to be occupied by Shutterfly with on-site amenities including a fitness center and conference facilities. In addition to indoor amenities, the 16.22-acre lakeside site features an outdoor seating area and direct access to a 1.6-mile walking path.

The JLL team was led by Senior Managing Directors Colin Ryan and David Berglund from the Capital Markets Group and Pat Williams from the Tenant Representatives Group.

“The property at 11000 Viking Dr. in Eden Prairie is an iconic campus in the city that will be brought up to today’s standards,” Ryan said. “The project will be redesigned by Tempus Real Estate Partners with a view to collaboration and flexibility.”

JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it’s sales and investment advice, debt advice, equity advice or recapitalization. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.

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