Enverra Real Estate Partners Acquires Four-Building Office Park In St. Louis Park For $83.9M

The transaction involves the acquisition of a four-building campus known as the West End Office Park located at 1665 Utica Avenue South, 1660 Minnesota Highway 100, 5354 Parkdale Drive, and 5353 Gamble Drive in St. Louis Park, Minnesota. The buyer, Enverra Real Estate Partners, purchased the asset for $83.9 million, translating to approximately $163.50 per square foot. The total square footage of the property amounts to 513,000, and it is currently 90% leased.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $83,900,000
• Square Footage: 513,000
• Price Per Square Foot: $164
• Buyer: Enverra Real Estate Partners
• Seller: Bridge Investment Group
• Broker: Cushman & Wakefield

Cushman & Wakefield acted as the broker representing Bridge Investment Group in this transaction. Enverra Real Estate Partners has plans to invest an additional $7 million in upgrades to the office park following the acquisition.