601 Tower at Carlson Center up for Sale

The multi-tenant office building in Minnetonka has no listed asking price, but a bid due date will be set later on.

The 601 Tower at Carlson Center in Minnetonka is up for sale, according to the Web site of C.B. Richard Ellis, the commercial real estate firm in charge of the sale.

The 15-story building, located at the junction of Interstates 394 and 494, has no listed asking price, but the Web listing indicates that a bid due date will be set later on.

New York-based Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF) currently owns the building.

Representatives from both C.B. Richard Ellis and TIAA-CREF declined to comment on or provide details about the sale, citing company policy.

According to the C.B. Richard Ellis listing, the 601 tower has 288,458 rentable square feet and is 93 percent occupied. Tenants include HQ Global, RBC Capital Markets, Conopco, Inc., and Wachovia Securities.

The 601 tower, better known as one of the “Carlson towers,” features a two-story polished marble atrium capped with a 55-foot rotunda, with an exterior of reflective glass and polished burgundy granite. It was built in 1989.

The tower's market value was $42 million in 2009, according to Hennepin County property records.

The 601 Tower's twin tower-the 701 Tower-isn't for sale. It is owned by Carlson Real Estate Company and houses the headquarters of Carlson, one of Minnesota's three-largest private companies.

-Liala Helal