Xcel Energy Acquires 154,000 Square Foot Industrial Warehouse In Minneapolis For $15 Million

Xcel Energy acquired a 154,000-square-foot warehouse located at 63 Saint Anthony Parkway in Minneapolis, MN. The property was purchased for $15 million in an all-cash transaction, following the seller's planned hold period. The building, which was formerly a Ford Motor Co. warehouse, is situated in the Columbia Park area and will be utilized by Xcel as an owner-user site adjacent to its existing land holdings in northeast Minneapolis.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $15,000,000
• Address: 63 Saint Anthony Parkway
• Market: Minneapolis, MN
• Square Footage: 154,000
• Price Per Square Foot: $97
• Buyer: Xcel Energy
• Seller: Fountain Real Estate Capital & Midloch Investment Partners

The transaction involved Xcel Energy as the buyer and Fountain Real Estate Capital along with Midloch Investment Partners as the sellers. This acquisition signifies the completion of the sellers' hold period for the property prior to the sale.