CBRE Arranges $100M Recapitalization for 36-Property Industrial Service Facility Portfolio Across 20 States

by Kristin Harlow

MINNESOTA — CBRE has arranged a $100 million recapitalization of a 36-property industrial service facility portfolio on behalf of a joint venture between Wayzata, Minn.-based Moir Park Capital and Eden Prairie, Minn.-based Hempel Real Estate. Industrial service facilities provide an outdoor storage component coupled with zoning that allows for a wide range of industrial uses. The portfolio encompasses nearly 630,000 square feet across 201 acres in 20 states. All of the properties are fully occupied by eight tenants, including United Rentals, Gerber Collision & Glass, Kaige Kubota, Caliber Collision, Sunbelt Rentals, Home Depot, Cummins and H&E Equipment Services. Judd Welliver, Bentley Smith, Michael Caprile, Ryan Bain, Zachary Graham, Joseph Horrigan, Will Pike and Victoria Gomez of CBRE represented Moir Park Capital in the transaction.

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