Scannell Properties Sells Industrial Portfolio In Brooklyn Park Minnesota For $63.5M

Three fully leased warehouses were sold located at 10695 Winnetka Avenue North, 10750 Xylon Avenue North, and 10700 Xylon Avenue North in Brooklyn Park, MN. The property encompasses a total of 428,016 square feet and was sold for $63,500,000, equating to approximately $148 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $63,500,000
• Square Footage: 428,016
• Sale Price per Square Foot: $148
• Seller: Robert Scannell - Scannell Properties
• Brokers: Judd Welliver & Bentley Smith - CBRE
• Weighted Average Lease Term: 6.79 years

The transaction was facilitated by brokers Judd Welliver and Bentley Smith from CBRE, representing the seller Scannell Properties in the deal. The buyer remains an undisclosed California family office.