Transwestern Real Estate Services‘ Capital Markets team has been hired to market a 1.2-million-square-foot, value-add sale-leaseback of the Resideo regional headquarters in Golden Valley, Minnesota, a first-ring suburb of Minneapolis.
The property is being marketed by Minneapolis Managing Director Harrison Wagenseil and Executive Vice President Gerry Trainor, based in the firm’s Washington, D.C. office.
Located at 1985 Douglas Drive N. in Golden Valley, the property is currently owned by Resideo Technologies, which also leases the property alongside a Fortune 100 company. The building serves as a mission critical facility and regional headquarters for Resideo Technologies, which plans to lease back a portion of the property upon the sale.
“The campus was 100 percent owner-occupied by a Fortune 100 company from 1956 until late 2018 when Resideo Technologies became a separate publicly traded company,” said Wagenseil. “Moving forward, both companies will anchor the property as tenants with opportunity to increase yield through further lease up.”
Originally constructed as a single-tenant corporate headquarters, the property is a value-add investment and sits on nearly 74 acres of industrial-zoned land within 15 minutes of downtown Minneapolis. With industrial, industrial flex and office space, the building can meet the space requirements of a wide array of users.
