Onward Investors buys office portfolio for $25M


Onward Investors has bought a package of at least eight metro-area buildings for $25 million, the latest in a string of deals for the the Edina property investment firm.

Finance Commerce reports on the deal between Onward and New York-based General Electric Credit Equities Inc. that totaled 421,364 square feet of space, at $58.74 per square foot.

Properties in the deal include the Cedar Business Center, a two-building parcel in Bloomington; Eden Woods Business Center, a three-building research and office park in Eden Prairie, and 55 West Financial Center in Plymouth.

Onward was founded by former Opus Northwest CEO John Solberg. Last year it bought Tech West 55 in Plymouth for $5.5 million.

Mark Reilly manages daily and weekly coverage at the Business Journal newsroom.



Article source: http://www.bizjournals.com/twincities/morning_roundup/2014/09/onward-properties-buys-office-portfolio-for-25.html

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