MINNEAPOLIS — CBRE has arranged the sale and acquisition financing for a 220,244-square-foot, four-property industrial portfolio in metro Twin Cities. An undisclosed buyer purchased the portfolio from Big River Real Estate for $25.2 million. CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller. Billy Mork and Mike Vannelli of CBRE arranged a $15 million loan on behalf of the buyer that features a five-year term, fixed interest rate and full-term interest-only payments. The properties include 1971 Seneca Road in Eagan, 1420-1464 Cliff Road in Burnsville, 3830 Cheatham Ave. in Minneapolis and 1441 First Ave. NW in New Brighton. All of the assets were at least 94 percent leased at the time of sale.
Pictured is 1420-1464 Cliff Road, which features a clear height of 18 feet, two drive-in doors, six doors and a 117-stall parking lot. The 49,999-square-foot property in Burnsville was fully leased by four tenants at the time of sale.
CBRE Arranges $25.2M Sale of Industrial Portfolio in Metro Twin Cities
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