Saber Hall Investment Management acquired Boulder Lakes III, a 116,549-square-foot, Class-A, light industrial/tech building at 3000 Ames Crossing Road in Eagan, Minnesota.
The $15.4 million acquisition marks the fourth Eagan industrial property to be added to Saber Hall’s expanding portfolio.
Constructed in 2008, Boulder Lakes III is currently 82% leased to five tenants: Krech Exteriors, Lynx Innovation, The Open Door Pantry, People, Inc. and Service Express. The building has a clear height of 19 feet along with three loading docks and five drive-in doors. It is situated in the desirable corporate hub of Eagan with easy access to Interstates 35E and 494, and just minutes from the Minneapolis/St. Paul International Airport. Neighboring brands include Thompson Reuters, Ecolab, Twin Cities Orthopedic and the new Minnesota Vikings campus and training facility.
Cushman & Wakefield’s Avery Ticer and Adam Hoffman helped secure the deal.
Saber Hall also owns and operates Eagan Business Commons I & II (2915 & 2980 Commers Dr) and 2956 Center Court in Eagan. The firm’s portfolio spans 39 properties, totaling over 1.7 million square feet across Minnesota, South Dakota and Florida, with assets valued at more than $175 million.
The Boulder Lakes investment represents another important milestone in Saber Hall’s ongoing growth. Since the spring, the firm has expanded its team with three new full-time hires: Joe Geske is Saber Hall’s new director of operations with a focus on acquisitions; Kayla Stepan has been brought on as general manager to oversee day-to-day operations and maintenance across the portfolio; and Brian Bast has joined as chief engineer.
Earlier this month, Saber Hall closed on a $12.5 million, five-building portfolio in Roseville and New Brighton.
