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Multitenant office sales in the Twin Cities took a hit in 2020 amid the pandemic and economic downturn.
Other than the $130 million sale of the West End Office Park in St. Louis Park, big sales were few and far between in the first half of 2020. In its midyear report, Newmark Knight Frank said Minneapolis-St. Paul total office sales stood at $526 million, down 38% from the previous year.
In the second half, sales activity picked up a bit with deals that include the $51.2 million sale of the Millwright Building in downtown Minneapolis and the $52.2 million sale of the UHG Optum Health Campus in Eden Prairie.