Transwestern Real Estate Services‘ Midwest Capital Markets Group brokered the sale of Rush Lake Business Park, a two-building, 79,028-square-foot asset in New Brighton, Minnesota.
Harrison Wagenseil and Erik Coglianese represented the seller, Biynah Industrial Properties, in the transaction. Illinois-based Clear Height Properties purchased the park for $8.725 million.
Sale highlights for the industrial-tech property include a diversified rent roll; excellent interstate highway visibility and access; new area housing developments; significant med-tech presence in the Northeast submarket; and recent capital improvements of approximately $1 million.
Transwestern’s Midwest Capital Markets Group provides investment sales and financing solutions to investors across the commercial real estate spectrum. The team includes experts who individually specialize in office, industrial, retail, multifamily and senior living assets, including independent living, assisted living, memory care, skilled nursing and continuing care retirement communities.
