JLL Capital Markets has completed the sale of The Lex, a recently renovated office property in Shoreview, Minnesota, for $18.55 million. The four-story building totals 124,925 square feet and has undergone upgrades that include a modernized lobby and refreshed communal areas.
JLL represented the seller, Shoreview Ridge Office LLC, in the disposition. The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Colin Ryan and David Berglund, who oversaw marketing and negotiations on behalf of the seller.
The Lex was renovated in 2023 and is currently 95% leased, with a tenant roster spanning financial services, healthcare and technology users. The combination of recent capital improvements and high occupancy positions the property as a stabilized office asset within its local submarket.
The building is managed by Eagle Ridge Partners, which oversees day-to-day operations at the property. The management structure supports a diverse mix of tenants that utilize the upgraded common areas and shared spaces within the four-story asset.
The Lex is located on 4.13 acres within the Shoreview Corporate Center, a mixed-use redevelopment that includes three luxury apartment communities and two additional office buildings. This setting places the property within a broader corporate and residential environment, offering synergies for both office users and nearby residents.
The surrounding area provides a range of retail, restaurant and entertainment options that support the daytime office population. According to the announcement, the property is within a short drive of both Minneapolis and St. Paul central business districts, giving tenants access to the Twin Cities’ primary employment and amenity hubs while remaining in a suburban corporate park setting.
The transaction underscores ongoing investor interest in well-leased, recently upgraded office assets in established suburban submarkets. With strong occupancy, diversified tenancy across several industries and a location inside a larger mixed-use campus, The Lex represents a stabilized income-producing property within the Minneapolis metro office landscape.
