CRE Midwest

CBRE ANNOUNCES THE SALE OF THE WINNETKA DISTRIBUTION CENTER, NEW HOPE, MINNESOTA.

CBRE announces the sale of Winnetka Distribution Center located in New Hope, Minnesota, to One Liberty Properties, Inc. for $7,200,000. The seller was Exchange Realty, Inc., a Minneapolis based private equity firm was represented by the CBRE Institutional Properties group in Minneapolis led by Steven Buss and Judd Welliver. Winnetka Distribution Center is a 121,225-square-feet office/warehouse built in 1966. The property has 28’ clear height and underwent a complete interior and exterior renovation. At the time of sale, the building was 100% occupied by one tenant. The Minneapolis based team of Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver focuses on the disposition of single-tenant and multi-tenant industrial and office properties. The team also advises real estate operating companies on the sourcing and structuring of joint venture equity. Steven, Tom and Ryan are part of the 85-member CBRE Institutional Properties group. In 2013, the Capital Markets enterprise of CBRE including the Institutional Properties group completed over $87.2 billion in combined total U.S. capital activity.