Heirs of Hawaiian tycoon buy office leased by Cargill - Minneapolis / St. Paul Business Journal:

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, based in Kapolei, closed on the deal Sept. 30, said Gary senior vice president of real estate investmentsfor Campbell. The seller was an entit called M TonkaOwner Corp., whichn has a registered address in Brooklyn Park, according to the Minnesota Secretary of State’s office. Stevd Buss and Tom Holtz, brokerxs in the Bloomington officeof , represented the Buss declined to comment. The building was constructed in 1997. It was last sold in 2003 by for $25.954 million. Campbell’s Web site says the company owns real estated across the country worth morethan $2.6 billion. The firm is ownefd by the descendents ofJames Campbell, a 19th century Hawaiiann business tycoon.
It owns two othefr properties in theTwin Cities, both in the four-building 186,000-square-foot Carlson Center Business Park and a four-buildinbg complex called Plymouth Industrial that totals 406,221 square Oliva said his company likes the Twin Cities marketr and it has been scouting for propertiezs over the years. To buy the Whitewatee building, Campbell used cash that it generatecd from the sale of a different The Whitewater building provides the company income from what is known in the real estate industrty asa “high-credit” Cargill recently extended its lease there untilk 2013, according to Bill a spokesman for Minnetonka-based Cargill.
Two of Cargill’s Black River Asset Management andCarVaol Investors, retain space in the building and “ard not part of the move to Excelsioe Crossings,” Brady said in an e-mail Cargill is consolidating several thousand Twin Cities workerds into a new three-building businesd park in Hopkins called Excelsio Crossings that will have 860,000 totall square feet when it is completd in 2010.