MINNEAPOLIS, Jan. 30, 2025 -- Today, Onward Investors ("Onward") announces the acquisition of the 31-story Ameriprise Financial Center in downtown Minneapolis. The 960,000 square foot building, located at 707 2nd Avenue South, has served as the headquarters of Ameriprise Financial since its construction in 2000.
Soon to be vacant, the tower is well-located within the Minneapolis skyway system, providing direct access to the Minneapolis Club, Capella Tower, SPS Tower, and Baker Center. It also offers below-grade parking for over 300 vehicles in its 4-story parking ramp accessed from 3rd Avenue South.
Onward is exploring a variety of options for the property, including converting all or some of the building to uses other than office.
"The purchase of the Ameriprise Financial Center is another demonstration of our desire to be an active participant in the recovery of downtown Minneapolis. We believe that now is a great time to be investing in the city's future and look forward to engaging a multitude of stakeholders in the coming months as we re-imagine this well-known asset in the Minneapolis skyline," said Jon Lanners, Partner at Onward Investors.
About Onward Investors:
Based in Minneapolis, Onward Investors is an alternative investment firm specializing in real estate-related opportunities. Founded in 2011 to capitalize upon dislocation in the wake of the Global Financial Crisis, the firm marries deep asset class expertise with comprehensive credit and equity investing capabilities. For more information about Onward Investors, please visit www.onwardinvestors.com.
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