Industrial W Minnesota

CBRE closes sale of 108,000-square-foot industrial building in Minneapolis area

  

CBRE Capital Markets recently represented ownership in the sale of the Bass Creek Technology Plaza, a 108,628-square-foot industrial building leased by Carl Zeiss Inc. in Maple Grove, Minnesota. The sale closed for $10.03 million.

The Minneapolis-based team of Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz represented the seller, Interstate Partners. The buyer is STAG Industrial, an investment firm headquartered in Boston.

The 24-foot clear height warehouse facility is 100-percent leased by ZEISS, a technology firm specializing in optics and optoelectronics. The Bass Creek Technology Plaza, at 6250 Sycamore Lane North, serves as a headquarters for ZEISS’ industrial metrology division.

Originally built as a built-to-suit for ZEISS in 2001, the building features a blend of Class-A office/showroom, modern manufacturing space and a warehouse.