JLL Capital Markets has closed two office and industrial sale-leasebacks in two separate transactions for Scantron in Eagan, Minnesota, and Omaha, Nebraska, for an undisclosed price.
JLL marketed the properties on behalf of the seller, Transom Capital Group, a Los-Angeles-based private equity firm that acquired Scantron in 2019. AIC Ventures purchased the 113,184-square-foot headquarters building in the suburban Minneapolis community of Eagan, and MAG Capital Partners bought the 47,184-square-foot office and industrial property in Omaha. Both purchases include a long-term, triple net lease with the tenant.
The Eagan building is a mission-critical office, warehouse and R&D facility that features up to 24-foot clear heights in the warehouse, four dock-high doors and ample parking. Situated on 12.5 acres at 1313 Lone Oak Rd., the property is approximately 15 miles south of both Minneapolis and St. Paul. This strategic, infill location is within the low vacancy Burnsville/Eagan/Apple Valley submarket and is in a premier corporate suburban node with dense, affluent demographics.
The Omaha building, which houses the Scantron’s Technology Solutions business unit is located at 2020 South 156th Circle. The space is highly functional with a warehouse component featuring two dock doors and 20- to 24-foot clear heights on a 3.6-acre parcel. The southwest Omaha market is dense with low vacancy across industrial and office product types. The property is proximate to Omaha’s largest master-planned development, Heartwood Preserve, a 500-acre mixed-use, urban project.
The JLL Capital Markets team representing the seller for the Eagan building sale was led by Nick Foster, Connor Ott and Bradley Whiting. Nick Foster also led the Omaha transaction along with Kurt Liss.
“Both of these transactions were launched and closed during the pandemic, and we were thrilled to work with two great buyers and long-term partners for the tenant,” Foster said. “The market for industrial and office sale-leasebacks has remained strong, comparative to other product types, while investors across the spectrum of capital sources search for a combination of both yield and surety of income.”
