A 60,374-sq-ft multitenant light industrial building located at 8406 Sunset Road Northeast in Spring Lake Park, MN, was sold for $3.8 million, equating to approximately $62.94 per square foot. The property spans 2.72 acres and was previously owned by nonprofit Rise, which has since relocated its operations. The building was initially listed for sale at $4.2 million and was marketed by CBRE's Minneapolis team.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $3,800,000
• Address: 8406 Sunset Road Northeast
• Market: Spring Lake Park, MN
• Acres: 2.72
• Square Footage: 60,374
• Price Per Square Foot: $63
• Buyer: Buhl Investors
• Seller: RISE
• Brokers: Mike Bowen, Matt Oelschlager, Jonathan Juris & JP Maloney - CBRE

An entity associated with Buhl Investors acquired the property after it was listed on the market. The successful transaction highlights the collaborative efforts of the CBRE team involved in marketing the property and facilitating the sale.