Ames Construction purchased two fully leased twin warehouses for a total of $33,000,000. The properties, located at 12493 and 12501 Dupont Avenue South in Burnsville, MN, encompass 231,776 square feet and were built in 2022. The acquisition was part of an all-cash 1031 exchange and reflects a price per square foot of approximately $142.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $33,000,000
• Buyer: Ames Construction
• Seller: Mike Faber - Capstone Quadrangle
• Square Footage: 231,776
• Price Per Square Foot: $142
• Market: Burnsville, MN
• Buildings Leased To: Acme Tools and Irby Utilities

The deal involved Mike Faber representing Capstone Quadrangle as the seller in the transaction. The purchase adds to Ames Construction's portfolio, focusing on fully leased properties in key locations.