City Of Anoka Acquires 8-Acre Industrial Site In Anoka, Minnesota For $9M

The City of Anoka has acquired an 8-acre industrial property located at 2939 Sixth Avenue in Anoka, Minnesota. The site, previously owned by Frandsen Corp. and Dennis Frandsen, was purchased for a total of $9 million. The property is part of the Anoka Station Master Plan, and the city intends to redevelop it in accordance with this plan. The site was once a plant and will undergo demolition, private development, and potential adjustments to zoning and the master plan to accommodate its future usage.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $9,000,000
• Address: 2939 Sixth Avenue, Anoka, Minnesota
• Market: Anoka, Minnesota
• Seller: Frandsen Corp. - Dennis Frandsen
• Buyer: City of Anoka
• Asset Type: Industrial
• Acres: 8

The acquisition of this 8-acre industrial property by the City of Anoka represents an important step in the implementation of the Anoka Station Master Plan. The city aims to revitalize the site and promote its future development in alignment with the designated plan. This transaction includes adjustments to zoning and potential private development, reflecting the city's commitment to enhance the area's economic potential and meet the community's needs.