The CBRE Minneapolis Institutional Properties team has closed three industrial sale transactions in the past 30 days totaling more than 500,000 square feet and more than $48 million, signaling an continued trend in activity for the sector.
The team of Judd Welliver, Ryan Watts, Sonja Dusil, Bentley Smith and Tom Holtz represented the sellers in each of the transactions. Sale prices/parties were not disclosed. The three transactions are:
Brickyard Exchange is a two-building development opportunity consisting of a to-be-constructed 130,749-square-foot build-to-suit for Cherne Industries and a proposed 82,000-square-foot speculative development at 2300 Vierling Drive in Shakopee, Minnesota.
Southtech Plaza II is a 114,631-square-foot industrial tech property at 9555 James Ave. S in Bloomington Minnesota’s Southwest industrial submarket. At the time of sale, the property was 93 percent occupied by five tenants, with a known vacate within the year that will reduce occupancy to 31 percent.
King Solutions Distribution & Logistics Campus Sale Leaseback consisted of King Solutions’ 186,013-square-foot Corporate Logistics Headquarters and 97,765-square-foot temperature-controlled warehouse at 11011 and 11015 Holly Lane North in Dayton, Minnesota.
