Industrial W Minnesota

CBRE sells pair of industrial tech buildings in Minnesota

CBRE sells pair of industrial tech buildings in Minnesota,ph01

CBRE Capital Markets recently arranged the sale of Technology Park V and VI, a pair of industrial tech buildings totaling 125,340 square feet in Eden Prairie, Minnesota, to a local buyer for $6.35 million.

The Minneapolis-based Capital Markets group led by Judd Welliver and Bentley Smith represented the seller, Eden Prairie Associates LLC. The buyer is 5th Street Ventures, a local commercial real estate investment group and manager.

The sale presents a value-add opportunity for the new owner through lease-up of the remaining vacancy in both buildings, which were 64 percent occupied at the time of sale.

The buildings, located at 7615-7625 Golden Triangle Drive in Eden Prairie, offer 74 percent office finish in a wooded, office park setting.