Lakeside Asset Hits the Auction Block

The Ackerberg Group is parting ways with a Class A office asset in the City of Lakes.

By Ioana Neamt, Associate Editor

3033 Excelsior Blvd
3033 Excelsior Blvd

A Class A office asset in Uptown Minneapolis is looking for a new owner. Working on behalf of The Ackerberg Group, CBRE is seeking a buyer for Lake Calhoun Center, a 160,150-square-foot building at 3033 Excelsior Blvd.

Located on the shores of Lake Calhoun, the building is 90 percent leased and is home to a tenant roster that includes Fairview Health Services, Whitebox Advisors LLC and the Minneapolis Lakes office of Coldwell Banker Burnet.

A CBRE Minneapolis team comprising Steven Buss, Ryan Watts, Judd Welliver and Sonja Dusil is tasked with finding a buyer. The team focuses on the disposition of single-tenant and multi-tenant office and industrial properties.

“Lake Calhoun Center has been one of the top performing office buildings in the Minneapolis market and will allow a new owner to capitalize on the trend for tenants using real estate as a tool to attract millennial workers,” said Buss in a statement.

Lake Calhoun Center is located near Lake of the Isles, Cedar Lake, the Grand Rounds parkway system, the Midtown Greenway recreational trail, major bus lines and retail destinations. Amenities include a fitness facility, complimentary valet parking and multiple conference rooms.

Photo courtesy of The Ackerberg Group