Troy Volk Of Volk Investment Co. LLC Acquires Industrial Property In Mankato For $10.6M

A 309,500 square foot industrial property located at 2415 Third Avenue in Mankato, MN was sold for $10,600,000. The sale reflects a significant decrease from its previous sale price of $17.6 million in 2021, illustrating a nearly 40% drop. The property is noted for its rare size and premium functionality.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $10,600,000
• Address: 2415 Third Avenue
• Market: Mankato, MN
• Square Footage: 309,500
• Price Per Square Foot: $34
• Buyer: Troy Volk - Volk Investment Co. LLC
• Seller: WP Carey Inc
• Broker: Peter Loehrer - Colliers

Troy Volk of Volk Investment Co. LLC has plans to relocate Volk Transfer’s headquarters to the newly acquired site and lease out the remaining space. This transaction follows True Value’s bankruptcy, which influenced the market dynamics leading to the significant price drop.