A historic building in Minneapolis just sold at a shocking 80%+ ‘discount’ – this is not a typo
The 164k sq ft building sold for $3.8 million or $23 per sq ft
What did the seller pay for it back in 2017? $19.2 million
What’s concerning is that even at 70-80% ‘discounts’ there are few buyers at those prices for office buildings across the US…
This is not good for commercial real estate or the financial system.
For the latest updates on the commercial real estate meltdown just like this, make sure to follow @TripleNetInvest
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