PCCP LLC And Capital Partners Acquire 6 Industrial Properties In Minneapolis For $71M From Artis REIT

PCCP LLC and Capital Partners, represented by Peter Mork and Jason Simek, have acquired a portfolio of six industrial properties in the Minneapolis area for a total of $71 million. The properties, located at 2401 Edgewood Avenue South, 4830 Azelia Avenue North, 3900 Lakebreeze Avenue, 2601 49th Avenue North, 2305 Walnut Street, and 7003 Lake Street West, encompass a combined total of 690,742 square feet. The purchase price per square foot is $103.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $71,000,000
• Market: Louis Park, Brooklyn Center & Roseville, Minneapolis

The seller in this transaction is Artis REIT. The properties are currently 91% leased to 15 tenants and offer clear heights ranging from 20 to 32 feet. Additionally, office space is available within the properties.

It is important to note that PCCP LLC and Capital Partners have successfully acquired this portfolio of industrial properties, adding to their real estate holdings in the Minneapolis area.