Industrial W Minnesota

CBRE sells four-building industrial portfolio in Minneapolis market

CBRE sells four-building industrial portfolio in Minneapolis market,ph01

CBRE closed the sale of a four-building, 612-960-square-foot industrial portfolio in Minneapolis. The portfolio was sold by Altus Properties to a fund managed by DRA Advisors LLC for $40.4 million.

The transaction closed Dec. 10.

CBRE’s Judd Welliver was the lead broker for the seller, Altus Properties. Ryan Watts, Sonja Dusil and Tom Holtz with CBRE worked alongside Welliver on this transaction.

The portfolio is made up of four industrial buildings in the cities of Burnsville, Brooklyn Park, St. Louis Park and Bloomington, Minnesota. Each building has an occupancy rate of 100 percent.

Properties in the portfolio include:

The Nicollet Business Center in Burnsville

Boone Avenue Distribution Center in Brooklyn Park

Cedar Lake Business Center in St. Louis Park

Bloomington Business Center in Bloomington