Southpoint Office Center is a 15-story, Class-A office complex located in Bloomington, Minnesota. Developed in 1986, the property totals approximately 365,000 square feet in three buildings at 1650 and 1700 West 82nd St. It has also been certified LEED® Silver for Existing Buildings.
The Southpoint Office Center boasts a solid tenant roster, including United Bankers’ Bank, Wells Fargo & Co., the Midwest regional office for McDonald’s Corp. and the Minnesota Society of CPAs. In fact, for the past 26 years, Stewart Title has also been a tenant – occupying the first-floor space in each of the three buildings that comprise this landmark edifice on the 494-Interstate strip.
Founders Properties, a sponsor of investment funds that is owned by Best Buy Co., Inc., founder Richard Schulze and Opus Group founder Gerald Rauenhorst, bought the Southpoint Office Center in Bloomington for $44.6 million.
Southpoint Office Center is the first property that will be included in Founders’ second investment fund. The new fund will focus on stable, income-producing properties spread throughout the United States.
FF II MN SP, LLC
Sun Life Assurance Company of Canada through NorthMarq Capital
- Title Insurance:
Stewart Title Company – Minnesota
Stewart Title Guaranty Company, National Title Services, Minneapolis, Minnesota
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