I3 Investors Acquires 610 Business Center From Water Street Partners For $11.5M In Brooklyn Park

The property involved in this transaction is an industrial asset located at 9300 Winnetka Avenue North in Brooklyn Park, MN. This asset spans 78,215 square feet and was sold for $11,500,000, resulting in a price per square foot of $147. The property features long-term tenants including Southern Graphics Systems and Twin Cities Habitat for Humanity.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $11,500,000
• Square Footage: 78,215
• Address: 9300 Winnetka Avenue North
• Market: Brooklyn Park, MN
• Buyer: i3 Investors
• Seller: Water Street Partners
• Brokers: Bentley Smith & Judd Welliver - CBRE

The transaction was significant as it marked the exit of Water Street Partners from the property, which they acquired in 2018 for $10 million. The strong lease terms and limited availability of Class B light industrial properties contributed to the successful sale.