SR Realty Trust, Inc. has acquired two net-leased industrial properties in the Twin Cities market, one in St. Michael and another in Eagan, Minnesota.
Together these acquisitions added about 260,000 square feet to SRRT’s Minneapolis/St. Paul market holdings and brings its portfolio to 3 million square feet.
The property in St. Michael, located at 12070 43rd St. Northeast, is a 98,000-square-foot office/warehouse building leased to a specialty manufacturing company.
The property in Eagan, at 2926 Lone Oak Circle, includes 160,000 square feet of rail-served warehouse, production and storage space, and roughly six acres of outside storage.
As part of the St. Michael transaction, SR Realty Trust, Inc. facilitated 1031 exchanges for three investors.