St. Paul Group Acquires Shuttered Alliance Bank Center
The St. Paul Downtown Development Corporation, a nonprofit, has acquired the closed Alliance Bank Center.
The building, located at 55 E, will remain closed for the foreseeable future while undergoing a year-long property redevelopment evaluation.
The DDC purchased the building from Madison Equities, which shuttered the building in March after telling tenants to move out.
The financial details of the deal were not disclosed in the press release.
The Alliance Bank Center will remain closed for the foreseeable future while it undergoes a property redevelopment evaluation, which is expected to last about 12 months.
Author's summary: St. Paul Downtown Development Corporation acquires Alliance Bank Center.