Canadian real estate investment trust Artis REIT has paid $56.9 million for the first phase of U.S. pharmacy benefit management solutions provider Prime Therapeutics’ new Eagan campus.
The building on the second phase, which is 160,000 square feet, is underway and will be wrapped up in early 2020.
In September, Artis REIT revealed that it was aiming to buy both phases for $98.5 million, meaning the second phase will sell for $41.6 million. The deal includes almost 19 acres.
U.S. commercial property developer United Properties completed the 225,000-square-foot building at 2900 Ames Crossing Road at the end of October and it sold the building at the end of November.