CBRE Arranges $70.6M Sale of 1.2 MSF Industrial Portfolio in Suburban Twin Cities

MINNEAPOLIS — CBRE has arranged the sale of a 1.2 million-square-foot industrial portfolio in the Twin Cities metro area for $70.6 million. The portfolio, which features 14 buildings across seven properties, includes: Corporate Square in Eagan; Eagan Industrial Warehouse in Eagan; Braemar Business Center in Bloomington; Northpoint Industrial Center in Fridley; France Avenue Business Park in Brooklyn Center; Round Lake Business Center in Arden Hills; and Burnsville Business Center in Burnsville. The portfolio was 81 percent leased at the time of sale to tenants such as Ameriprise Inc., Staples, Supply Technologies LLC and Galil Medical Inc. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE marketed the portfolio for sale on behalf of Artis REIT. Capital Partners LLP purchased the portfolio in a joint venture with PCCP LLC.