Onward Investors Acquires Fully Occupied Industrial Property In Lino Lake, Minneapolis For $28.9M

An affiliate of Onward Investors has purchased a fully occupied 404,300-square-foot industrial property in Lino Lake, Minnesota for $28.9 million from Artis REIT. The property is located at 6870 21st Avenue South in Lino Lake, Minneapolis and covers an area of 27.85 acres. It is situated in the industrial market of Lino Lake, Minneapolis. The sale price of the property was $28,900,000, with a price per square foot of $71.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $28,900,000
• Square Footage: 404,300
• Address: 6870 21st Avenue South, Lino Lake, Minneapolis
• Market: Lino Lake, Minneapolis
• Buyer: Onward Investors - John Solberg
• Seller: Artis REIT

An affiliate of Onward Investors, represented by John Solberg from Onward Investors, acquired the industrial property from Artis REIT. The property is currently fully occupied by Distribution Alternatives, a logistics company. The transaction took place on June 12, 2023.