The Colonnade in Golden Valley sold to Eagle Ridge Partners, BLG Capital Advisors

This building, which measures more than 36,000 square feet, is located in Golden Valley near Interstate 394. The Colonnade is located at 5500 Wayzata Boulevard. It is currently 85% occupied by tenants such as Bell Bank, Pentair, and Inspire Medical Systems. The building was built by Trammell Crow in 1988. According to the Business Journal, the purchase of the $100 million office building was one of the most expensive suburban offices sales in the Twin Cities at the time. Potential tenants will also find the location attractive because it is only a short drive from downtown Minneapolis. Ryan Cos is located in the West End neighborhood. Renovations to the Colonnade will begin in spring and be completed by the fall. "This asset is a lasting legacy in the Twin Cities market. Van Gemert stated that it was the most prominent Class A office building in the suburbs for a long time. As part of their renovation plan, the new owners intend to renovate the atrium. The new atrium will be open for meetings and offer additional seating so tenants can work. Eagle Ridge, a Minneapolis-based company that specializes in development, acquisition and management is called Eagle Ridge. Van Gemert stated that although the company has done several office renovations before, this is its largest single-asset project in Minnesota. "Eagle Ridge had great success in the renovation of One Southwest Crossing, and we see even more potential at the Colonnade," Matt Tuthill (director of real estate with BLG), stated in a press release. She said, "When you have local, hands-on management who is investing in the asset and spending money, and really making it a partnership between their tenants and their employees, I think it really resonates."