Saint Paul Properties Acquires 10.5 Acre Industrial Property In Albert Lea For $7.1M

The transaction involved the sale of a 127,869-square-foot industrial property located at 1851 Margaretha Avenue in Albert Lea, Minnesota. The asset, covering an area of 10.5 acres, was sold for $7,100,000, reflecting a price per square foot of $56.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,100,000
• Sale Date: 08/20/2026
• Buyer: Saint Paul Properties
• Brokerage: Marcus & Millichap
• Brokers: Jon Ruzicka, Paul Rider & Don Schmidt
• Financing: $4.798 million acquisition financing through a five-year, non-recourse loan at 5.3% interest with 25-year amortization

Saint Paul Properties acquired the property from a Minnesota-based partnership, with Marcus & Millichap facilitating the transaction and securing the financing for the acquisition.