Meritex Co Acquires Industrial Property In Eagan MN From Combo III LLC For $9M
3225 Neil Armstrong Boulevard
$9,000,000
$117/SF
Building Size
76,520 SF
Asset Type
Industrial
Closing
Mar 6, 2026
AI
The property involved in this transaction is an industrial asset located at 3225 Neil Armstrong Boulevard in Eagan, MN. The sale was executed on March 6, 2026, and the transaction amount reached $9,000,000. The facility encompasses a total of 76,520 square feet and is situated on a 5.97-acre site.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $9,000,000
- Address: 3225 Neil Armstrong Boulevard, Eagan, MN
- Sale Date: March 6, 2026
- Seller: Combo III LLC & CRP-Lexington LLC
- Buyer: Meritex Co
- Square Footage: 76,520
- Price Per Square Foot: $118
- Brokers: Phil Simonet & Joe Jetland - Forte Real Estate Partners
Meritex Co sold the Lexington Corporate Center to Combo III LLC and CRP-Lexington LLC in this transaction. Phil Simonet and Joe Jetland from Forte Real Estate Partners acted as the representatives for the seller in the deal.
Players
Saint Paul Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93