Brisky Net Lease brokered the sale of a 199,919-square-foot industrial building leased to Superior 3rd Party Logistics in Oakdale, Minnesota.
The single-tenant investment property sold for $23 million.
Broker Brian Brisky was the only broker involved in the sale of the property at 3490 Hayward Ave. N in Oakdale.
The entire building is currently occupied by Superior 3rd Party Logistics, a leading provider of end-to-end warehousing and distribution, backed by 17+ years of expertise in logistics. The property is newly constructed (2022), on 15.142 acres and part of the larger 4Front Technology & Office Campus. The property is strategically located just off I-694 and offers excellent connectivity, conveniently located about 10 miles east of St. Paul and 20 miles east of Minneapolis. The Twin Cities has a solid industrial market with vacancy rate of 3.9%, below the national avg of 7.5%. The pipeline for new industrial inventory in the market is limited and 82% is preleased according to CoStar.
