Avison Young has been awarded the exclusive sales listing for a 140,465-square-foot industrial building in suburban Minneapolis.
Avison Young principals Erik Foster and Mike Wilson, both based in Chicago and members of the firm’s National Industrial Capital Markets Group, are representing building ownership, a national property owner, along with Avison Young principals Tom Dunsmore and Jim Rock of the Minneapolis office.
The building, located at 322 Lake Hazeltine Drive in Chaska, Minnesota, sits on a 15.42-acre site, and has been fully occupied by global biomedical company Beckman Coulter, Inc. since 2007. This facility, in conjunction with five other buildings in the immediate area, are critical to the company’s operations.
The asset is located in the Southwest Minneapolis market, which has seen declining vacancy rates the past several years.
“This asset offers investors a unique opportunity to secure a strong performing asset that is fully leased to a global medical provider,” said Foster. “This type of scenario is ideal for those looking for long-term stability and growth potential.”
The 15-million-square-foot Southwest office market has consistently outperformed many major submarkets within the United States. The highly skilled labor force residing in Chaska and the southwest suburban area is also crucial to this building, which provides tenants with easy access to Route 41, Route 5 and Highway 212.
