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8611, 8700, & 8650 West...

Updated Oct 29, 2024

Blaine Business Park Fully Leased With Action Target & Aspect Automation As Tenants
LEASEDIndustrial

Blaine Business Park Fully Leased With Action Target & Aspect Automation As Tenants

8611, 8700, & 8650 West 35W Service Dr. NE,Blaine, Minnesota

Building Size

130,020 SF

Asset Type

Industrial

Closing

Apr 20, 2023

About this deal

AI

A business park in Blaine, Minnesota, consisting of three buildings with a total area of 317,400 square feet, has been fully leased, according to CBRE. The park, known as Blaine35, is located at 8611, 8700, and 8650 West 35W Service Dr. NE. It is an industrial property with a size of 130,020 square feet. The landlord, Artis REIT, has secured tenants for all the available space.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 8611, 8700, & 8650 West 35W Service Dr. NE
  • Market: Blaine, Minnesota
  • Total Square Feet: 317,400
  • Tenants: Action Target & Aspect Automation
  • Landlord: Artis REIT

The final leases for the Blaine35 business park were secured by shooting range equipment manufacturer Action Target and automated manufacturing solutions provider Aspect Automation. The landlord's representatives in this transaction were Dan Swartz and Austin Lovin from CBRE.

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Industrial

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Players

AR
Artis REITLandlord

Minneapolis Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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