Colliers closed the sale of a portfolio of 22 industrial properties throughout the Minneapolis market totaling more than 1.91 million square feet.
The Colliers MSP Office and Industrial Investment Services Team of Mark Kolsrud, John McCarthy, Peter Carbonneau, Peter Loehrer, Kyle Delarosby and Lydia Paasch led negotiations with the buyer, Nicola Wealth Real Estate Acquisitions LTD on behalf of the seller, a national owner of industrial assets.
The seller’s portfolio was comprised of two sub-portfolios, one of high office finish located in the southwest market of Minneapolis and the other of more traditional warehouse and distribution product.
“With the demand for industrial warehouses and distributions at an all time high, sourcing and selecting a buyer was a highly competitive process,” said Kolsrud, senior executive vice president. “Our team and the seller feel very fortunate to have found a reliable and committed buyer in Nicola Wealth. We with them the best of luck on their first investment in the Twin Cities.”