Designed by Pei, Cobb and Freed partners as part of a joint venture between IBM and the Opus Corporation, 225 South Sixth first opened in 1992 and has since become one of the most recognizable landmarks in the Twin Cities. The building’s location in the heart of Minneapolis affords easy access to and from the downtown loop either via the unique skyway system or by street and is in close proximity to numerous amenities and major commuter thoroughfares, including I-35W, I-394 and I-94, as well as public transportation lines. The Fund purchased the asset at a substantial discount to replacement cost in August 2006, which provided upside in rents as the market stabilized. Since acquisition, the property's infill characteristics have allowed the Fund to sign over 600,000 square feet in leases at the property, including a renewal/expansion lease with Capella Education for 426,000 square feet in the down market.