California's CIRE Equity has acquired a 23-acre site in Coon Rapids, Minnesota, for $18.7 million. The property includes a warehouse and land for a new industrial building. This purchase aligns with CIRE Equity's expansion strategy in the Twin Cities' industrial sector.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $18,700,000
• Address: 8840-8880 Evergreen Boulevard, Coon Rapids, Minnesota
• Market: Coon Rapids, Minnesota
• Acres: 23
• Buyer: CIRE Equity - Benjamin Choo
• Seller: Shopoff Realty Investments - Brian Rupp; Guggenheim Real Estate Holdings
• Broker: Bill Rose - Marcus & Millichap
• Square Footage: 261,805
• Price per Square Foot: $71

Bill Rose of Marcus & Millichap represented the buyer, CIRE Equity, in this transaction. The seller, Shopoff Realty Investments, was represented by Brian Rupp and Guggenheim Real Estate Holdings. This deal highlights the active presence of both buyers and sellers in the industrial real estate market in Coon Rapids, Minnesota.