December 15, 2016 (Edina, MN) – ICM Realty Group, the international real estate investment and management firm, announced today that it has purchased the 112,000 square foot One Corporate Center IV office building, located at 7301 Ohms Lane, Edina, MN. The purchase represents ICM’s third investment in the Minneapolis area and was made on behalf of ICM (IX) Real Estate Trust, a fully discretionary private equity trust focused on acquiring and developing office, retail and medical office properties.
Located in the coveted “close to everything” Edina submarket, One Corporate Center IV maintains a prestigious roster of tenants with immediate proximity to housing, hotels, shopping, dining and entertainment. Situated just off the Highway 100 and I-494 interchange, the property enjoys prominent visibility, provides convenient access to major highways and is walking distance from area amenities.
In addition to its hallmark design utilizing center core efficient floor plates, the building boasts an exceptional parking ratio of approximately 5 parking spaces per 1,000 square feet. “One Corporate Center IV appeals to local and national tenants across numerous industries” said Andrew Webb, ICM’s Managing Director. “Truly great service is at the heart of who ICM is, and our plans for One Corporate Center IV will allow us to provide the building’s tenants with uncompromising quality and significant value.”
As part of the investment’s business plan, ICM intends to continue the building-wide renovation started by the prior owner, which will include common area improvements and adding building amenities.
“One Corporate Center IV is an excellent addition to the ICM portfolio and a superb opportunity for ICM to add immediate value,” said ICM CEO Bruce Timm.
In order to deliver the best service possible, ICM has partnered with Hines Interests for the property management and enlisted the services of Brent Robertson and Jack Ryan with JLL for leasing the remaining vacant space.
Founded in 2003, ICM Group is a fully integrated real estate investment firm that focuses on the US and Canadian commercial real estate markets. From its offices in Calgary, Atlanta, San Francisco, Minneapolis and Munich, ICM’s core objective is to provide institutional and high net worth clients with customized services in the areas of property management, asset/portfolio management, and transaction advisory services. ICM has a proven track record with all investment-property types and has extensive experience in structuring and managing cross-border investment vehicles including real estate investments, private placements, and real estate syndications.