PCCP, Capital Partners Acquire 1.2 MSF Industrial Portfolio in Metro Minneapolis

MINNEAPOLIS — PCCP and Capital Partners LLP have formed a joint venture to acquire a 1.2 million-square-foot industrial portfolio in metro Minneapolis. The purchase price was not disclosed. Artis, a Canada-based REIT, sold the seven-property portfolio, which is 82 percent leased. The assets feature a mix of bulk warehouse, light industrial and flex product types. The properties include France Avenue Business Park (Brooklyn Center), Northpoint Industrial Center (Fridley), Eagan Industrial Warehouse (Eagan), Corporate Square (Eagan), Braemar Business Center (Bloomington), Burnsville Business Center (Burnsville) and Round Lake Business Center (Arden Hills).