MSP Commercial Acquires Medical Office In Maple Grove For $8M

The $8 million sale of Maple Grove Executive Plaza, a 58,000-square-foot medical office building located at 7767 Elm Creek Boulevard in Maple Grove, Minnesota, has been successfully facilitated by Transwestern Real Estate Services. The property, which boasts tenants like Children’s Minnesota Specialty Center, iSpine Clinics, and Edina Realty, was acquired by an entity associated with MSP Commercial. The focus of the new owners will be on extensive renovations to attract additional medical tenants to the establishment.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $8,000,000
• SF: 58,000
• Price Per Square Foot: $138
• Address: 7767 Elm Creek Boulevard
• Market: Maple Grove
• Buyer: MSP Commercial
• Seller: Merchant Development LLC
• Brokers: Bryan Beltrand, Erik Coglianese & Mike Salmen - Transwestern

The deal was spearheaded by Bryan Beltrand, Erik Coglianese, and Mike Salmen of Transwestern, ensuring a smooth transaction of Maple Grove Executive Plaza to MSP Commercial. With plans for significant upgrades and a strategic approach to attract more medical tenants, the property is set to undergo a transformation under the new ownership.