JLL Capital Markets closes $18.55 million sale of renovated office building in Shoreview

JLL Capital Markets closes $18.55 million sale of renovated office building in Shoreview

JLL Capital Markets announced today that it has completed the $18.55 million sale of The Lex, a 124,925-square-foot, recently renovated office building in Shoreview, Minnesota.  JLL represented the seller, Shoreview Ridge Office LLC, in the sale of the property. Renovated in 2023, The Lex is a four-story office building offering a modern lobby and communal spaces. The property is managed by Eagle Ridge Partners and is currently 95% leased to a variety of tenants in the financial services, healthcare and technology industries.  The Lex is positioned on 4.13 acres within the Shoreview Corporate Center, a mixed-use redevelopment that is home to three luxury apartment communities and two additional office properties. The immediate area surrounding The Lex offers an abundance of retail, restaurant and entertainment amenities and is within minutes to both Minneapolis and St. Paul’s central business districts. Additionally, Interstates 35W and 695 are close by providing access throughout the Twin Cities area, including to the Minneapolis-Saint Paul International Airport. JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Colin Ryan and David Berglund.