Colliers Arranges Sale of 1.9 MSF Industrial Portfolio in Metro Minneapolis

MINNEAPOLIS — Colliers International has arranged the sale of a 22-building industrial portfolio spanning 1.9 million square feet in metro Minneapolis. The sales price was undisclosed. Half of the portfolio features a high office finish and is located in the southwest submarket of Minneapolis, while the other half is comprised of warehouse and distribution product. Mark Kolsrud, John McCarthy, Peter Carbonneau, Peter Loehrer, Kyle Delarosby and Lydia Paasch of Colliers represented the seller, a national industrial owner. The team also procured the buyer, Nicola Wealth Real Estate Acquisitions LTD. Mike Taylor, Brian Bonipart and Pat Taylor of Gantry secured a $130 million loan on behalf of the buyer. A life insurance company provided the seven-year loan, which featured a sub-3 percent rate and a 30-year amortization schedule.