SR Realty Trust, Inc. purchased a 360,000-square-foot industrial property in Eagan, Minnesota, that is 100% leased to Murphy Logistics for $25 million.
The property, located at 905 Yankee Doodle Road, was built in 1970 and 1980, and sits on a 17-plus acre site. The office/warehouse building has 29 dock doors and one drive-in door and is rail served.
“The Minneapolis-St. Paul industrial market remains in high demand. The South-Central submarket continues to see vacancy rates drop and asking rents increase as it provides vital space through the main artery of the metro area,” said Dan Ruehl, Acquisition Manager, SR Realty Trust.
This is SR Realty Trust’s 16th industrial acquisition and fourth Eagan asset in its 39-property portfolio.
