Ward Fitzgerald Acquires Industrial Portfolio In Eagan, Minnesota For $450M

The industrial portfolio located in Eagan, Shakopee, Brooklyn Park, Maple Grove, Otsego, and Roseville, Minnesota, was recently sold to EQT Exeter by Prologis Inc. The transaction involved 24 buildings with a total square footage of 5,000,000 square feet and was acquired for $450,000,000, equating to a price per square foot of $90.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $450,000,000
• Buyer: Ward Fitzgerald - EQT Exeter
• Seller: Hamid Moghadam - Prologis Inc.
• Brokers: Bentley Smith, Joseph Horrigan, Judd Welliver, Michael Caprile, Ryan Bain, Victoria Gomez & Zachary Graham - CBRE

EQT Exeter, a company based in Radnor, Pennsylvania, made a significant investment in the Twin Cities industrial real estate market by purchasing these properties from Prologis Inc. The seller, Prologis Inc., divested these assets that were originally acquired from its 2022 purchase of Duke Realty, marking a substantial transaction in the local industrial real estate sector.