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Office Building Buyers Say Second Tower in Cedar Rapids, Iowa, Is Possible.

By Dave DeWitte, The Gazette, Cedar Rapids, Iowa Knight Ridder/Tribune Business News

Apr. 7--CEDAR RAPIDS, Iowa -- With a glut of office space in downtown Cedar Rapids, anyone who would pay $16 million for an upscale downtown office tower must see opportunities others don't.

Downtown Cedar Properties LLC fits that bill. The group bought the GreatAmerica Building on Thursday, seeing opportunities to capitalize on a new federal courthouse and city parking garage slated for the area.

Lead investor Michael Frantz said the group was initially attrac

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