CBRE arranged the sale and acquisition financing for a 255,501-square-foot industrial portfolio featuring two properties in Maple Grove, Minnesota. Enclave purchased the portfolio from Artis REIT for $25.5 million.
CBRE’s Judd Welliver, Bentley Smith, Zach Graham, Ryan Bain, Michael Caprile and Joe Horrigan represented the seller in the transaction. CBRE’s Joel Torborg, Mike Vannelli and Billy Mork of CBRE Capital Markets’ Debt and Structured Finance team in Minneapolis secured the fixed-rate, interest-only $15 million loan on behalf of the buyer.
The offering, located at 9200 Forestview Lane N. and 9155 Cottonwood Lane, is currently 100% leased to two tenants and is located southwest of the intersection of Highway 610 and 169 in the Northwest industrial submarket. The portfolio allows access to over 4.3 million square feet of retail amenities, including Park Place Promenade, the Arbor Lakes development, and The Grove.
