Marcus & Millichap closed the sale of an 87,044-square-foot net-leased industrial property in St. Paul, Minnesota.
The asset sold for $4.675 million.
Sean O’Brien and John J. Godwin, investment specialists in Marcus & Millichap’s Chicago Oak Brook and Michigan offices, respectively, exclusively marketed the property on behalf of the seller, a private investor.
The buyer was a private, out-of-state investor. Matthew Hazelton assisted in closing the transaction as the broker of record in Minnesota.
Located at 195-215 Sycamore St., the property includes two free-standing warehouses with a fully paved and fenced outside storage space. O’Brien assisted the seller in negotiating an eight-year lease extension with tenant Allied Building Products prior to the closing.