The Terrace Group acquired River Tech Workplace at 5155 – 5301 East River Road in Fridley, Minnesota.
Bentley Smith of CBRE represented the seller in the sale of the property to an entity affiliated with The Terrace Group. Midloch Investment Partners, based in Chicago, is The Terrace Group’s equity partner in the acquisition.
The four-building flex industrial business park totals approximately 270,022 square feet and is situated on nearly 20 acres in a well-established employment corridor just northeast of downtown Minneapolis. Constructed in 1987, River Tech Workplace features a diverse mix of spaces designed to accommodate a wide range of tenants including light industrial, service, technology and medical users.
Strategically located along East River Road in the North Central submarket, the property offers convenient access to major transportation routes (Interstate 694, Highway 252 and Interstate 94) providing efficient connectivity for tenants and their employees. The campus setting, flexible building configurations and ample parking position River Tech Workplace as a highly adaptable environment for growing businesses.
The addition of River Tech Workplace further expands The Terrace Group’s footprint in the Twin Cities and complements the firm’s existing portfolio of flex industrial assets throughout the region.
