Exchange Realty, Inc. announced today that it has acquired the Anoka Distribution Center located in Anoka, Minnesota for $9,500,000. The seller was represented by Rodney Lee of Premier Commercial Properties.
Anoka Distribution Center is a 228,000 square foot office/warehouse facility located at the intersection of Highway 10 & Thurston Avenue, which is the main entrance to the Anoka Enterprise Park. The approximate 21 acre site contains excess land, which can accommodate an additional 60,000 square feet of warehouse space. The property is currently 100% occupied by Alliant Techsystems Inc. (NYSE: “ATK”).
“This was a unique opportunity to acquire prime real estate at substantially below replacement cost, with the added bonus of excess developable land,” commented Duane Lund, President of Exchange Realty. “In ATK, we have a credit tenant with a long standing history of occupancy in and around the Anoka market.”
