Glen Una Investment & Management Co. Acquires Upland Industrial Center In Chanhassen For $10.75M

The Upland Industrial Center, located at 8170-8190 Upland Circle in Chanhassen, Minnesota, is an industrial asset that covers a total of 69,300 square feet. It was sold for $10,750,000, translating to a price per square foot of $155. The property was repositioned prior to the sale, which involved securing a long-term lease with Direct Source and converting the asset from an outdated office configuration into a modern industrial facility.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $10,750,000
• Buyer: Glen Una Investment & Management Co.
• Seller: Peter Deanovic - Buhl Investors
• Square Footage: 69,300
• Price Per Square Foot: $155

Buhl Investors successfully sold the property after making significant renovations that contributed to the increased value of the asset. The sale price reflects a nearly 140% increase from the previous acquisition amount of $4.5 million.