The City of Grand Forks is one step closer to wrapping up the sale of the Corporate Center I building.
The city council – meeting as the Jobs Development Authority – accepted a $5.7 million dollar offer on the downtown building last night (Monday). Current tenants Alerus Financial…Brady Martz…and The Law Firm have agreed to buy Corporate I – and assign the rights to a third party.
Corporate Center I & II were built after the 1997 flood. Corporate Center II was sold in 2021 for $2.5 million dollars.
The sale could close as soon as December. In the event it takes longer a short term temporary lease with the tenants will be drafted.
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