I3 Investors Acquires Mixed-Use Property In Bloomington For $19.35 Million From Peter Mork
Circle Drive
$19,350,000
$118/SF
Building Size
162,679 SF
Asset Type
Mixed-use
Closing
Jun 10, 2026
AI
The mixed-use asset located at 6401-6539 Cecilia Circle in Bloomington, MN, has a total square footage of 162,679 and was sold for $19,350,000. The price per square foot for this transaction was $119, reflecting Capital Partners' original acquisition significantly appreciating since its purchase in 2018.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $19,350,000
- Buyer: i3 Investors
- Seller: Peter Mork - Capital Partners
- Square Footage: 162,679
- Price Per Square Foot: $119
- Market: Bloomington, MN
- Purchase Increase: 83% from 2018
Indiana-based i3 Investors has acquired the Normandale Tech Center, which is a flex industrial property, thereby enhancing its portfolio in the Twin Cities area. This acquisition highlights the strategic growth approach employed by i3 Investors as they continue to invest in industrial properties.
Players
Minneapolis 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
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93