Altus Properties Sells Four-Building Industrial Portfolio in Metro Minneapolis for $40.4M

MINNEAPOLIS — Altus Properties has sold a four-building, 612,960-square-foot industrial portfolio in metro Minneapolis for $40.4 million. A fund managed by DRA Advisors LLC purchased the portfolio. All four buildings are fully occupied. The properties include a 118,125-square-foot building within Nicollet Business Center in Burnsville; a 322,752-square-foot facility within Boone Avenue Distribution Center in Brooklyn Park; a 50,400-square-foot structure within Cedar Lake Business Center in St. Louis Park; and a 121,684-square-foot building within Bloomington Business Center in Bloomington. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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