SR Realty Trust, Inc. has acquired Excelsior Tech Center, a 110,000-square-foot multi-tenant industrial property. The property, located at 175 Jackson Ave. North in Hopkins, Minnesota, was built in 1955, sits on a 6.2-acre site and is near the Southwest light rail route, close to the Blake Road station.
The property was originally occupied by Honeywell, where it produced and tested defense items for the United States military. It’s now home to small bay warehouse tenants occupying 97.7% of the building.
As part of the transaction, the seller Hopkins Mainstreet II, LLC completed a 721 Exchange, or UPREIT.