Shutterfly, the personalized gifts and photo goods company, has offloaded a key office in the Minneapolis-St. Paul area in a $23.5 million sale-leaseback transaction. The price is roughly 40% below the appraised value of $38.1 million, according to a sale document on file with the state of Minnesota, and likely reflects plans to demolish one of the two buildings there and turn the newly vacant area into green space.
Shutterfly's Minneapolis Office Campus Sold to Arkansas Investor in Sale-Leaseback
New Owner Plans To Raze One of Two Buildings at Eden Prairie Site
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Real Estate