Wausau Coated Products Inc Acquires Office Warehouse In Plymouth, MN For $5.9M
2790 Ranchview Lane North
$5,900,000
$78/SF
Building Size
74,867 SF
Asset Type
Office
Closing
Jan 5, 2024
About this deal
AI
Wausau Coated Products Inc has acquired the former J-Mark Products office warehouse in Plymouth, Minnesota. The property, located at 2790 Ranchview Lane North, sits on 4.84 acres of land. The transaction took place for a total sale price of $5,900,000. The office space spans across 74,867 square feet, resulting in a price per square foot of $79.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,900,000
- Address: 2790 Ranchview Lane North, Plymouth, MN
- Market: Plymouth, MN
- Acres: 4.84
The buyer, Wausau Coated Products Inc, a family-owned company, completed the purchase in cash. The seller, Gary R. Henrickson, agreed to the transaction. The deal was facilitated by brokers Charlie Merwin, Clint Moe, Danny McNamara, and Jason Meyer, representing Cushman & Wakefield.
Players
Minneapolis Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93