Enclave closed on the acquisition of a 255,501-square-foot, two-building industrial asset in Maple Grove, Minnesota, at the intersection of 9200 Forestview Lane N and 9155 Cottonwood Lane N, southwest of Highways 169 and 610.
The highly functional warehouse facility is fully leased to two tenants, Malark Logistics and Avonix Imaging. The asset is situated on 20.14 acres in the Northwest industrial submarket, the largest in the Minneapolis MSA.
Recent research from Costar indicates that Industrial vacancy in the Northwest Submarket of the Twin Cities sits at 96.8% occupancy with projected 4.2% rent increases. Between the two buildings, the property features 16 dock doors, two drive-in doors and abundant parking.
