Industrial W Minnesota

CBRE closes sale of 87,000-square-foot logistics center in St. Paul

CBRE closes sale of 87,000-square-foot logistics center in St. Paul,ph01

CBRE recently represented Opus Development Company, L.L.C., in the sale of 955 Wells St., an 87,038-square-foot logistics center within Beacon Bluff Business Center in St. Paul, Minnesota, to Link Industrial Properties, Blackstone’s U.S. industrial real estate operating platform.

Judd Welliver, Ryan Watts, Sonja Dusil, Tom Holtz and Bentley Smith of CBRE Minneapolis represented the seller in the transaction.

Beacon Bluff Business Center was constructed in late 2018 on the site of 3M’s former headquarters after the culmination of a joint-effort transformation project between Opus Development Company, L.L.C., and the Saint Paul Port Authority. The property is located just outside of the St. Paul Central Business District near Interstate 35E and is currently 82.3 percent occupied.