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
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.
Players
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