Tuesday, January 29, 2013

DRA Advisors Acquires $81M Office Portfolio

National Commercial Real Estate News From CoStar Group

DRA Advisors Acquires $81M Office Portfolio

NY-based investment company DRA Advisors LLC has acquired the MoneyGram and 1600 Towers located in Saint Louis Park, MN from Equity Office / The Blackstone Group for $81 million, or approximately $165 per square foot.

The two class A office towers total 490,787 square feet in a master-planned office park immediately adjacent to The Shops at West End retail development. Duke Realty Corporation developed the two towers in 1987 and 2000.


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