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Piedmont Purchases Norman Pointe I Office Bldg

Grammercy Property Trust Sells 214,000-SF Facility in Bloomington
January 25, 2018
Piedmont Office Realty Trust, Inc. acquired the Norman Pointe I office building at 5601 Green Valley Dr. in Bloomington, MN from Gramercy Property Trust, Inc. for $35.2 million, or about $165 per square foot.

Delivered in 2000, Norman Point l is a seven-story, 213,800-square-foot, 4-Star office building equipped with a conference room, fitness center and a food court. At the time of sale the asset was 70 percent leased, anchored by Pearson VUE, with the top two floors available for lease.

Mark Kolsrud, Colin Ryan and David Berglund of Colliers International represented the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4104011 for more information on this transaction.
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