Ryan Mallery Of Big River Real Estate Buys Industrial Property In Golden Valley

The industrial property located at 2450 Louisiana Avenue North in Golden Valley, Minnesota, with a total area of 4.38 acres, was recently sold for $5,300,000. The property consists of two buildings spanning 61,700 square feet and is fully leased to Tennant Company and 22nd Century Roofing. The sale price per square foot was $86.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,300,000
• Buyer: Ryan Mallery - Big River Real Estate
• Seller: Lacasa-Uptown Properties LLC
• Market: Golden Valley, Minnesota
• Square Footage: 61,700
• Price Per Square Foot: $86

Ryan Mallery from Big River Real Estate represented the buyer in the acquisition of this industrial property from Lacasa-Uptown Properties LLC. The transaction, which took place in Golden Valley, Minnesota, highlights the impact of rising interest rates and insurance costs on investment financing in the real estate market. The buyers plan to explore financing options in the future, aiming for a more favorable interest rate environment while navigating the significant challenges posed by increased insurance costs, which have nearly doubled the usual rates.