Updated Sep 22, 2026
Buzz Oates Acquires Industrial Property In Lakeville From Nuveen For $19 Million
9583 217th Street West
$19,000,000
$120/SF
Building Size
157,820 SF
Asset Type
Industrial
Closing
Jun 25, 2026
About this deal
AI
The industrial property located at 9583 217th Street West in Lakeville, MN, has a total square footage of 157,820 and was sold for $19 million in an all-cash transaction. The asset was built in 2021 and is approximately 87% leased to Dalsin Industries and The Outdoor GreatRoom Co., with around 21,000 square feet available for lease.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $19,000,000
- Sale Date: 06/25/2026
- Buyer: Buzz Oates
- Seller: Nuveen
- Price per Square Foot: $120
- Total Square Feet: 157,820
Buzz Oates is the buyer involved in this transaction, having acquired the asset from the seller, Nuveen. This deal reflects a significant investment in the industrial sector within the Lakeville market, with the property being part of the Interstate South Logistics Park.
On the Map
$19,000,000
$120/SF
Industrial
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Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93