The Investment Sales team at Colliers International | Minneapolis-St. Paul recently negotiated the sale of the Edina V building on behalf of Edina 76 Property Group LLC, an entity controlled by Sara investment Real Estate. Closing on August 3, 2017, the property was purchased by Francois Oil Company in Belleville, Wisconsin.
The med-tech industrial property is located at 5150-5198 W. 76th Street in Edina, Minnesota and was previously acquired by Sara Investment Real estate in 2014. Current tenants of the 136,494-square-foot building include Arkray USA and BARR.
Sara Investment Real Estate, a Madison, Wisconsin based real estate investment company has been active in many Midwestern markets in the past five years including Minneapolis-St. Paul. As owners they felt the property was well positioned at 100% occupancy and wanted to take advantage of favorable market conditions.
“Colliers has developed a great relationship with Sara Investment Real Estate,” said Bob Pounds, Senior Vice President at Colliers. “We have been a valued advisor in assisting to grow their Minneapolis-St. Paul holdings and we look forward to continuing that effort in the future.”
Sara Investment Real Estate’s most recent Minnesota acquisition was River Park Plaza, a 343,658-square-foot multi-tenant office property in St. Paul.
The Colliers International | Minneapolis-St. Paul Investment team of Senior Vice President Tim Prinsen, Senior Vice President Bob Pounds, Vice President Amy Senn and Senior Analyst Lori Pounds represented Sara Investment Real Estate in this transaction.
