CBRE arranged the sale and acquisition financing for a 220,244-square-foot industrial portfolio featuring four properties across the greater Minneapolis-St. Paul metropolitan area. An undisclosed buyer purchased the portfolio from Big River Real Estate for $25.225 million.
CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller in the transaction. CBRE’s Billy Mork and Mike Vannelli of CBRE Capital Markets’ Debt and Structured Finance team in Minneapolis secured the five-year, fixed-rate, full-term interest-only $15 million loan on behalf of the buyer.
The portfolio includes properties at 1971 Seneca Road in Eagan, Minnesota, 1420-1464 Cliff Road in Burnsville, Minnesota, 3830 Cheatham Ave. in Minneapolis, and 1441 First Ave. NW in New Brighton, Minnesota.
- 1971 Seneca Road features 18-foot clear heights, 11 drive-in doors, and an 88-stall parking lot. The building totals 49,615 square feet on a 3.1-acre site and was 94% occupied by 12 tenants at the time of sale.
- 1420-1464 Cliff Road features 18-foot clear heights, two drive-in doors, six doors, and a 117-stall parking lot. The property spans 49,999 square feet on a 3.8-acre site and was 100% occupied by four tenants at the time of the sale.
- 3830 Cheatham Ave. features 18-foot clear heights, eight dock doors, and 14 drive-in doors. The building totals 57,600 square feet on a 2.23-acre site and was 100% occupied by 12 tenants at the time of the sale.
- 1441 First Ave. NW features 14-foot clear heights, 12 dock doors, nine drive-in doors, and a 24-stall parking lot. The property spans 63,030 square feet on a 4.26-acre site and was 95% occupied by six tenants at the time of the sale.
