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Eyde Development Acquires Three Minnesota Warehouses From Capital Partners For $29 Million

Property Image
SOLD
$29,000,000

Minnesota

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Industrial610,959 SF
Sold 11/28/2023
the dealdetailscomps
Property Image
SOLD

Eyde Development Acquires Three Minnesota Warehouses From Capital Partners For $29 Million

4354 Round Lake Road West, 12235 Nicollet Avenue South & 7620 West 78th Street

See Similar Deals
Industrial610,959 SF
Sold 11/28/2023
the dealdetailscomps

Summary

MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$47
Total Square Footage:610,959 SF
Transaction Type:Sale

Eyde Development has purchased three Minnesota warehouses from Capital Partners for $29 million. The properties are located at 4354 Round Lake Road West in Arden Hills, 12235 Nicollet Avenue South in Burnsville, and 7620 West 78th Street in Bloomington. The industrial assets have a combined total square footage of 203,653 and were acquired as part of a 2017 portfolio deal.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $29,000,000
  • Market: Arden Hills, Burnsville, and Bloomington
  • Buyer: Eyde Development - Evemarie Eyde
  • Seller: Capital Partners - Peter Mork

Eyde Development, represented by Evemarie Eyde, has successfully completed the acquisition of these three warehouses from Capital Partners at a price of $29 million. The transaction marks a strategic move for Eyde Development in expanding its industrial property portfolio in the state of Minnesota.

Players

Capital Partners
Capital Partners
SELLER
S3 Capital
S3 Capital
SELLER

Details

SOLD
IMAGE: Peter Mork & Evemarie Eyde DATE: 11/28/2023 ADDRESS: 4354 Round Lake Road West, 12235 Nicollet Avenue South & 7620 West 78th Street MARKET: Arden Hills, Burnsville & Bloomington ASSET TYPE: Industrial BUYER: Eyde Development (@EydeDevelopment) - Evemarie Eyde SELLER: Capital Partners - Peter Mork SALE PRICE: $29,000,000 SF: 203,653 ~ PPSF: $142 NOTE: Eyde Development has purchased three Minnesota warehouses from Capital Partners for $29 million. The properties, acquired as part of a 2017 portfolio deal, are located in Arden Hills, Burnsville, and Bloomington.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
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