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Morgan Stanley Acquires 417600 Square Foot Industrial Warehouse From Seefried Industrial Properties For $70.15M

Property Image
SOLD
$70,150,000
Judd Welliver
Bentley Smith

Minnesota

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Industrial417,600 SF
Sold 11/20/2024
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SOLD

Morgan Stanley Acquires 417600 Square Foot Industrial Warehouse From Seefried Industrial Properties For $70.15M

15401 Boulder Avenue

See Similar Deals
Industrial417,600 SF
Sold 11/20/2024
Judd Welliver
Bentley Smith
the dealplayerscompscontact
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Summary

MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$168
Total Square Footage:417,600 SF
Transaction Type:Sale

A 417,600-square-foot warehouse located at 15401 Boulder Avenue in Rosemount, MN, was sold for $70.15 million. The asset, leased to Home Depot for 18 years, reflects a price-per-square-foot of $168.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $70,150,000
  • Sale Date: 11/20/2024
  • Buyer: Morgan Stanley
  • Seller: Seefried Industrial Properties
  • Brokers: Bentley Smith & Judd Welliver - CBRE
  • Square Footage: 417,600
  • Price Per Square Foot: $168
  • Market: Rosemount, MN

The transaction was facilitated by brokers Judd Welliver and Bentley Smith from CBRE, representing the seller, Seefried Industrial Properties, in the sale to Morgan Stanley subsidiary Eaton Vance. The strategic location of the warehouse, particularly its proximity to rail and labor, were significant factors influencing the deal.

Players

Judd Welliver
CBRE
Judd Welliver
27 deals$1.8B volume
BROKER
Bentley Smith
CBRE
Bentley Smith
25 deals$1.8B volume
BROKER

Details

SOLD
IMAGE: 11/20/2024 ADDRESS: 15401 Boulder Avenue MARKET: Rosemount, MN ASSET TYPE: Industrial BUYER: Morgan Stanley SELLER: Seefried Industrial Properties BROKERS: Bentley Smith & Judd Welliver (@JWelliver33) - CBRE SALE PRICE: $70,150,000 SF: 417,600 ~ PPSF: $168 NOTE: A 417,600-square-foot warehouse in Rosemount, MN, leased to Home Depot for 18 years, was sold for $70.15 million, with a price-per-square-foot of $168. The sale, brokered by CBRE’s Judd Welliver and Bentley Smith, was made by Seefried Industrial Properties to Morgan Stanley subsidiary Eaton Vance, with the location’s proximity to rail and labor being key factors in the transaction.

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