CBRE Brokers Sale of Granite Shores Multifamily Property in Suburban Minneapolis for $12.6M

ELK RIVER, MINN. — CBRE has brokered the sale of Granite Shores in the Minneapolis suburb of Elk River for $12.6 million. The 67-unit multifamily property is located at 633 Main St. NW. The asset was originally built as condominiums in 2008 and later converted into a rental property in 2011. Granite Shores features one- and two-bedroom floor plans averaging 996 square feet and an additional 9,803 square feet of ground-floor commercial space. Amenities include a fitness center, pet washing station, community room and outdoor deck. Keith Collins, Ted Abramson, Abe Appert and Drew Rafshol of CBRE represented the seller, Granite Shores LLC. Gary Hegenes was the buyer.