The Nicollet Business Center, located at 12125 Nicollet Ave in Burnsville, Minnesota, was sold for $12,750,000. The industrial property spans 12 acres and consists of approximately 118,000 square feet. The transaction, which took place on April 23, saw the facility being acquired by I3 Investors for roughly $107 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $12,750,000
• Buyer: Matt Dickerson - I3 Investors
• Seller: Peter Mork - Capital Partners; David Luski - DRA Advisors
• Brokers: Bentley Smith & Judd Welliver - CBRE
• Market: Burnsville, Minnesota
• Square Footage: 118,000
• Price per Square Foot: $108

The sale of the Nicollet Business Center was facilitated by CBRE Senior Vice President Bentley Smith and partner Judd Welliver. The buyers, I3 Investors, are based in Indianapolis, while the sellers were Capital Partners of Edina and DRA Advisors of New York.