Five months after being put up for sale, two buildings on the Cargill campus have found a new buyer.
Twin Cities Business reported Tuesday that Santa Monica, CA-based investment firm Colony Financial, Inc. bought the two seven-story buildings at 9350 and 9380 Excelsior Boulevard in Hopkins for $122.75 million.
CBRE Group was selling the building on behalf of the German investment firm IVG Institutional Funds GmbH. Real Estate Alert had estimated that the buildings could go for $140 million.
Cargill’s lease on the two buildings sold runs through 2020. Its lease for the third building on the Excelsior Crossing campus, which wasn’t up for sale, runs through 2023.