Arthur Mabbett Of North Wind Purchases 60 Acres In Rosemount From University Of Minnesota For $8.1M

North Wind purchased a development site consisting of 60 acres located at the intersection of 151st Street & Blaine Avenue in Rosemount, MN. The sale price for this asset was $8,100,000. The property will serve as the site for the Minnesota Aerospace Complex, which is a significant ground-testing facility for aircraft and space vehicles.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $8,100,000
• Address: 151st Street & Blaine Avenue
• Market: Rosemount, MN
• Acres: 60
• Buyer: Arthur Mabbett - North Wind
• Seller: The University of Minnesota

The transaction involves key stakeholders including buyer Arthur Mabbett, representing North Wind, and seller The University of Minnesota. The project, valued at $1 billion, is slated to create 250,000 square feet of testing and engineering space, along with a 60,000-square-foot advanced engineering facility developed in partnership with the university. Once operational, the complex is expected to generate hundreds of construction jobs and dozens of permanent positions.