Jim Pattison Developments Acquires Industrial Properties In Apple Valley And Maple Grove For $40.6M

The transaction involved the sale of two industrial properties located at 6175 Upper 147th Street West and 17800 Territorial Road within the Apple Valley and Maple Grove markets of Minnesota. The total sale price reached $40,600,000, with the Apple Valley warehouse comprising 112,325 square feet and sold for $17.3 million, while the Dayton property measured 132,000 square feet and was acquired for $23.3 million.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $40,600,000
• Buyer: Jim Pattison Developments
• Seller: Opus Development Co.
• Square Footage: 244,325
• Price per Square Foot: $166

Jim Pattison Developments completed the acquisition from Opus Development Co., which sold the recently built industrial properties. This transaction reflects the growing interest in industrial real estate within the Twin Cities area.