The wall of the former Schmitt Music Co. is shown shortly after it was repainted with the “Gaspard de la Nuit” musical score in August 1972. It overlooks a parking lot recently sold to Houston-based developer Hines Co.

The iconic Minneapolis parking lot made famous by Prince and the notable music score on the adjacent Schmitt Music building has been sold to Houston-based Hines and is expected to eventually become a high rise office building.

According to property records, the $8.4 million sale involves two parcels comprising 0.8 acres of land in the heart of downtown.

Currently used as parking lots, the site sits behind the Young-Quinlan building on Nicollet Mall and S. 9th Street, and the iconic three-story "Gaspard de la Nuit" musical score painted on the former Schmitt Music headquarters building at Marquette Avenue and S. 10th Street. Prince posed in front of the parking lot's famed musical score in 1977.

Officials at Houston-based Hines declined to comment for this article. The property seller, Steve Greenberg of Scottsdale Ariz.a, did not immediately return phone calls.

Several Minnesota real estate developers familiar with the project told the Star Tribune Monday that Hines had long been in discussions with the property owner about a possible sale. Plans were drawn up and shared with leasing experts.