LaSalle Investment Management Acquires Two Industrial Buildings In Maple Grove For $66.5M

Endeavor Development sold two industrial buildings located at 10901 Elm Creek Boulevard and 10900 Fountains Drive North in Maple Grove, MN. The transaction involved a total of 443,000 square feet of fully leased space, transacting at a price of $66.5 million, equating to $150 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $66,500,000
• Square Footage: 443,000
• Sale Price per Square Foot: $150
• Buyer: Josh Budish - LaSalle Investment Management
• Seller: Endeavor Development
• Broker: David Berglund - JLL
• Lease Terms: 7.4-year average
• Notable Tenants: Caribou Coffee, EJ Welch Co.

This transaction involved key players, with Josh Budish representing LaSalle Investment Management as the buyer and David Berglund from JLL acting as the broker in the deal. The seller, Endeavor Development, facilitated the sale of the properties that are part of Maple Grove’s Arbor Lakes Business Park.