Altus Properties Acquires Gateway Interstate Logistics Center In Arden Hills For $33.28M

The Gateway Interstate Logistics Center, an industrial property located at 4200 Round Lake Road West in Arden Hills, has been sold by Scannell Properties to Altus Properties for $33.28 million. The facility, consisting of 249,740 square feet, is fully occupied and features high-quality tenants. The sale price translates to a price per square foot of $133. This transaction attracted institutional investor interest, according to CBRE.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $33,280,000
• Square Footage: 249,740
• Price Per Square Foot: $133
• Address: 4200 Round Lake Road West, Arden Hills
• Market: Arden Hills

The sale of the Gateway Interstate Logistics Center in Arden Hills was facilitated by several brokers from CBRE, including Bentley Smith, Joseph Horrigan, Judd Welliver, Michael Caprile, Ryan Bain, Victoria Gomez, and Zachary Graham. Altus Properties, represented by Robert H. Johnson, acquired the property from Scannell Properties, with Robert Scannell representing the seller's side. The transaction marks a successful deal for both parties involved.