CBRE recently sold 8761 Brooklyn Boulevard in Minneapolis to Orchard Partners on behalf of James Campbell Company for $11.75 million. The property is a Class-A 103,964-square-foot distribution center built in 2007 that is currently fully occupied by four tenants.
The seller, Founders Properties, L.L.C., was represented by the CBRE Institutional Group in Minneapolis led by Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver. Founders Properties is a privately held company formed by Best Buy Founder Richard Schulze and Opus Founder Gerald Rauenhorst. Founders Properties’ current portfolio includes about 100 institutional-grade properties located throughout the United States.
