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Starwood Capital affiliate buys Minn. office tower for $100M

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Starwood Capital affiliate buys Minn. office tower for $100M

A Starwood Capital Group affiliate bought The Colonnade office building in Golden Valley, Minn., for $100 million, the Minneapolis/St. Paul Business Journal reported.

The purchase price was almost double what the seller, DRA Advisors, paid for the property in 2011.

The class A building spans 355,797 square feet at the intersection of Highway 100 and Xenia Ave. S. It is 98% leased to tenants such as Pentair, Buffalo Wild Wings and Bell Bank.

A CBRE Minneapolis broker team represented the seller on the deal, according to the publication.