Avison Young has been awarded the listing for a 40,000-square-foot, institutionally-owned office building at 343 East 82nd Street in Chaska, Minnesota.
The multi-tenant building is fully occupied to tenants with long-term plans to stay in the building. The building has a stable tenant roster with well-established companies that rely on the location and building features to operate their businesses. My Pillow, Inc., which had 2015 revenue of $36 million, occupies 51 percent of the building. Life Time Fitness, which occupies the remaining 49 percent, had 2015 revenue of $1.29 billion.
“This asset provides investors with a unique opportunity to gain access into the desirable Southwest submarket of Minneapolis,” comments Foster. “The Minneapolis market is one of the strongest in the region, creating a positive environment for investors looking for long-term stability and growth potential.”
Avison Young Principals Erik Foster and James Hanson, both members of the firm’s National Capital Markets Group, are representing building ownership, a national investment advisory firm.
