FREC Staring Lake LLC Acquires Mixed-Use Asset In Eden Prairie, MN For $6.8M
13300 Pioneer Trail
$6,800,000
$100/SF
Building Size
67,443 SF
Asset Type
Mixed-use
Closing
Feb 22, 2024
AI
The property involved in the transaction is Staring Lake Corporate Center, a 67,443-square-foot multitenant flex building located at 13300 Pioneer Trail in Eden Prairie, MN. The property was sold for $6.8 million at a price per square foot of $101.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,800,000
- Buyer: FREC Staring Lake LLC
- Seller: United Properties Investment LLC
- Broker: Tom O'Brien - Cushman & Wakefield
- Address: 13300 Pioneer Trail
- Market: Eden Prairie, MN
The sale of the Staring Lake Corporate Center was facilitated by United Properties Investment LLC and FREC Staring Lake LLC, with Tom O'Brien from Cushman & Wakefield serving as the broker in the transaction.
Players
Eden Prairie Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93