Marcus & Millichap recently negotiated the sale of the Duluth National Weather Service building, a 5,769-square-foot office property in Duluth, Minnesota. The asset sold for more than $1.7 million.
Barry Higgins and Patrick Ford, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also procured by Higgins and Ford.
Jon Ruzicka, broker of record of Minnesota, assisted in closing this transaction.
The Duluth National Weather Service property is located at 5027 Miller Trunk Highway in Duluth. This asset is a single-tenant government office building fully occupied by the National Weather Service.
The 5,769-rentable-square-foot, brick facade building was built-to-suit for the National Weather Service in 1995, according to the agency’s strict requirements, and sits on 1.73-acres including a generator building that the tenant pays all expenses for.
The property is currently encumbered by a 15-year lease (all firm), with 12 years remaining. The lease type is NN, with the tenant covering utilities and property management.
