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

Property Image
SOLD
$71,000,000

Minnesota

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Industrial690,742 SF
Sold 07/21/2023
the dealdetailscomps
Property Image
SOLD

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

2401 Edgewood Ave S St Louis Park, MN 55426, USA

See Similar Deals
Industrial690,742 SF
Sold 07/21/2023
the dealdetailscomps

Summary

MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$102
Total Square Footage:690,742 SF
Transaction Type:Sale

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.

Players

AR
Artis REIT
SELLER

Details

SOLD
IMAGE: Peter Mork & Jason Simek DATE: 07/21/2023 ADDRESS: 2401 Edgewood Avenue South, 4830 Azelia Avenue North, 3900 Lakebreeze Avenue, 2601 49th Avenue North, 2305 Walnut Street & 7003 Lake Street West MARKET: Louis Park, Brooklyn Center & Roseville, Minneapolis ASSET TYPE: Industrial BUYER: PCCP LLC; Capital Partners - Peter Mork & Jason Simek SELLER: Artis REIT (@ArtisREIT) SALE PRICE: $71,000,000 SF: 690,742 ~ PPSF: $103 NOTE: PCCP and Capital Partners purchased a portfolio of six industrial properties in the Minneapolis area for $71 million from Artis REIT. The properties are 91% leased to 15 tenants, with clear heights ranging from 20 to 32 feet and office space available.

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