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Altus Properties Acquires 180000 Sq Ft Industrial Warehouse In Woodbury For $23M From MSP Commercial

Property Image
SOLD
$23,000,000

Minnesota

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Industrial180,000 SF
Sold 01/06/2026
the dealdetailscomps
Property Image
SOLD

Altus Properties Acquires 180000 Sq Ft Industrial Warehouse In Woodbury For $23M From MSP Commercial

587 Settlers Ridge Parkway

See Similar Deals
Industrial180,000 SF
Sold 01/06/2026
the dealdetailscomps

Summary

MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$127
Total Square Footage:180,000 SF
Transaction Type:Sale

A 180,000 square foot industrial warehouse located at 587 Settlers Ridge Parkway in Woodbury, MN was sold for $23 million, which equates to approximately $128 per square foot. The warehouse currently has a 41% vacancy rate and was developed by Black Diamond and Onward Investors. The local market has mostly recovered from previous oversupply issues.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $23,000,000
  • Buyer: Altus Properties
  • Seller: MSP Commercial
  • Sale Date: 01/06/2026
  • Square Footage: 180,000
  • Price Per Square Foot: $128
  • Market: Woodbury, MN
  • Vacancy Rate: 41%

The transaction was facilitated between Altus Properties and MSP Commercial, with each entity representing their interests in the deal. This closed transaction reflects notable involvement from the respective companies as they continue to navigate the industrial market landscape.

Players

Cushman & Wakefield
Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: 01/06/2026 ADDRESS: 587 Settlers Ridge Parkway MARKET: Woodbury, MN ASSET TYPE: Industrial BUYER: Altus Properties SELLER: MSP Commercial BROKER: Cushman & Wakefield SALE PRICE: $23,000,000 SF: 180,000 ~ PPSF: $128 NOTE: A 180,000 sq ft warehouse in Woodbury sold for $23M, roughly $128 per sq ft, to Altus Properties from MSP Commercial. The property has a 41% vacancy rate, was developed by Black Diamond and Onward Investors, and the local market has mostly recovered from oversupply issues.

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