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4186 Lexington Avenue North

Updated Dec 4, 2024

CBRE Secures Lease For Life Link III At Shoreview Business Campus
LEASEDOffice

CBRE Secures Lease For Life Link III At Shoreview Business Campus

4186 Lexington Avenue North

Building Size

12,827 SF

Asset Type

Office

Closing

Jun 20, 2024

About this deal

AI

The Shoreview Business Campus in Shoreview, Minnesota, welcomed Life Link III, a medical air transportation company, as the new tenant with a secured 12,827-square-foot lease. The property, located at 4186 Lexington Avenue North, is managed by The RMR Group and boasts a 91% occupancy rate. Other medical tenants at the campus include Allina Medical Clinic and Courage Kenny Sports & Physical Therapy.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 4186 Lexington Avenue North
  • Market: Shoreview, Minnesota
  • Square Footage: 12,827
  • Landlord: The RMR Group (RMR)
  • Tenant: Life Link III
  • Brokers: Jerry Driessen, John Ryden & Maxx Schindel - CBRE

CBRE played a crucial role in facilitating the lease agreement between Life Link III and The RMR Group. Jerry Driessen, John Ryden, and Maxx Schindel were the brokers from CBRE who represented the parties in the deal, ensuring a seamless transition for the medical air transportation company into its new space at Shoreview Business Campus.

Players

John Ryden

CBRE

Broker

1 deal

Broker

Saint Paul Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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