Updated Aug 11, 2026
Andrew Schlossberg Of Invesco Acquires Two Industrial Buildings In Maple Grove For $74.15M
10701 Fountains Drive North & 10700 73rd Place North
$74,150,000
$182/SF
Building Size
406,000 SF
Asset Type
Industrial
Closing
Aug 10, 2026
About this deal
AI
The transaction involves two industrial buildings located at 10701 Fountains Drive North and 10700 73rd Place North in Maple Grove, MN. The total sale price for the properties was $74,150,000, encompassing a total square footage of 406,000 with a price per square foot of $183.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $74,150,000
- Buyer: Andrew Schlossberg - Invesco
- Seller: Josh Budish - Endeavor Development; Donald Kuemmeler - Pacific Coast Capital Partners
- Brokers: David Berglund & Colin Ryan - JLL
Invesco acquired the buildings at Maple Grove’s Arbor Lakes Business Park following a stabilization of occupancy by the sellers Endeavor Development and Pacific Coast Capital Partners. The brokers facilitating the transaction were David Berglund and Colin Ryan from JLL.
On the Map
$74,150,000
$182/SF
Industrial
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Players
Grove 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93