Updated Oct 29, 2024
Encompass Properties Acquires Shady Oak Business Center Industrial Buildings In Eden Prairie For $13.5M
10321 West 70th Street Eden Prairie, Minnesota 55344, USA
$13,500,000
Building Size
—
Asset Type
Industrial
Closing
Aug 11, 2023
About this deal
AI
Eagle Ridge Partners and BLG Capital Advisors have sold three industrial buildings in Eden Prairie to Encompass Properties for about $13.5 million. The buildings are part of the Shady Oak Business Center and are 94% occupied. The sale was made as part of a growth strategy for Encompass Properties' parent company, Pin High Holdings.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $13,500,000
- Address: 10321 West 70th Street, 10333 West 70th Street & 10391 West 70th Street
- Market: Eden Prairie, Minnesota
The buyer of the industrial buildings is Encompass Properties, represented by Paul Buchmayer. The seller is Eagle Ridge Partners, with Kristin Myhre and BLG Capital Advisors as the representatives. The brokers involved in the deal are Judd Welliver and Bentley Smith from CBRE.
On the Map
$13,500,000
Industrial
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Players
Eden Prairie Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93