Updated Sep 18, 2026
Nuveen Real Estate Acquires Three Industrial Properties In Dayton And Shakopee For $49.2M
2300 Vierling Drive West, 11011 Holly Lane North & 11015 Holly Lane North
$49,200,000
$39/SF
Building Size
413,000 SF
Asset Type
Industrial
Closing
Sep 16, 2026
About this deal
AI
Nuveen Real Estate has acquired three warehouses situated in Dayton and Shakopee, Minnesota, contributing a total of 413,000 square feet of industrial space to its portfolio. The properties include two warehouses located at 11011 and 11015 Holly Lane North, purchased for $32.5 million, and the 130,000-square-foot Brick Yard Exchange at 2300 Vierling Drive West, acquired for $16.7 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $49,200,000
- Buyer: Nuveen Real Estate
- Seller: Cabot Properties
- Brokers: Judd Welliver & Bentley Smith - CBRE
- Market: Shakopee & Dayton, MN
- Sale Price per Square Foot: $119
- Total Square Footage: 413,000 SF
The deal involved prominent industry players, with Nuveen Real Estate being represented by brokers Judd Welliver and Bentley Smith from CBRE, facilitating the successful transaction between the buyer and seller, Cabot Properties.
On the Map
$49,200,000
$39/SF
Industrial
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Players
Maple Grove Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93