CBRE Brokers 167 KSF Minnesota Portfolio Deal
- Dec 29, 2017
CBRE arranged the sale of a three-building, 166,650-square-foot portfolio in Eden Prairie, Minn. The portfolio includes Edenvale Executive Center A & B and Valley Gate North, and represents Red Tail Acquisitions’ second purchase in the Minneapolis market. The properties offer industrial and office space—approximately 83 percent of the entire surface.
Edenvale Executive Center, completed in 1986, is located at 7600-7688 Executive Drive. The 112,332-square foot asset features clear heights of up to 14 feet and five loading docks. Valley Gate North is located at 10025 Valley View Road. It was built in 1985 and bought by the previous owner in 2014 for $3.3 million, according to PropertyShark data. The two buildings are 82 percent occupied.
Senior Vice Presidents Ryan Watts and Judd Welliver, First Vice President Sonja Dusil and Executive Vice President Tom Holtz of CBRE’s Minneapolis office represented the seller in the transaction. The same team has recently arranged another Minneapolis office portfolio sale on behalf of local developer First & First.
Image courtesy of CBRE