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701 Northeast Industrial Bo...

Updated Aug 29, 2025

John Moragne Of Broadstone Net Lease Acquires Industrial Property In Minneapolis For $53.8M
SOLDIndustrial

John Moragne Of Broadstone Net Lease Acquires Industrial Property In Minneapolis For $53.8M

701 Northeast Industrial Boulevard

$53,800,000

$89/SF

Building Size

600,000 SF

Asset Type

Industrial

Closing

Aug 6, 2025

About this deal

AI

The property asset involved in this transaction is a 600,000 square foot industrial building situated on 21.8 acres at 701 Northeast Industrial Boulevard in Minneapolis, MN. The sale was completed for a total of $53,800,000, translating to a price per square foot of $90.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $53,800,000
  • Buyer: John Moragne - Broadstone Net Lease
  • Seller: J.J. Taylor Companies, Inc
  • Date of Sale: 08/06/2025
  • Market: Minneapolis, MN
  • Acres: 21.8
  • Square Footage: 600,000
  • Price per Square Foot: $90

This transaction involved John Moragne, representing Broadstone Net Lease, acquiring the property from J.J. Taylor Companies, Inc, which is linked to an LLC in the deal. The property is currently fully occupied by Breakthru Beverage Group, which acquired J.J. Taylor’s beer business in 2022.

On the Map

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$53,800,000

$89/SF

Industrial

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Players

John Moragne

Broadstone Net Lease

Buyer

$167.8M

vol

3 deals

Buyer
Broadstone Net Lease
Broadstone Net LeaseBuyer

Minneapolis Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $89 per square foot on a published $53.8M for 600,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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