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4100 Lexington Avenue North

Updated Jun 9, 2026

Manna Capital Acquires The Lex Office Building In Shoreview Minnesota For $18.55M
SOLDOffice

Manna Capital Acquires The Lex Office Building In Shoreview Minnesota For $18.55M

4100 Lexington Avenue North

$18,550,000

$148/SF

Building Size

124,925 SF

Asset Type

Office

Closing

Jun 4, 2026

About this deal

AI

Manna Capital has acquired an office building located at 4100 Lexington Avenue North in Shoreview, Minnesota, for $18.55 million. The asset spans 124,925 square feet and has a price per square foot of $148. The property is 94% leased and was originally built in the 1970s, with recent renovations. It is anchored by tenants including Alerus Bank and Great Waters Financial.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $18,550,000
  • Sale Date: June 4, 2026
  • Broker Representatives: Colin Ryan & Brian Glad - JLL
  • Seller: Eagle Ridge Partners
  • Buyer: Manna Capital
  • TIF Note Transfer: $4,700,000
This transaction reflects Manna Capital's strategy of targeting stabilized suburban office demand in Minnesota, with plans to retain the property as a long-term hold.

On the Map

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$18,550,000

$148/SF

Office

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Players

Colin Ryan

JLL

Broker

$362.8M

vol

9 deals

Broker
Manna Capital
Manna CapitalBuyer
Eagle Ridge Partners
Eagle Ridge PartnersSeller

Lexington Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $148 per square foot on a published $18.6M for 124,925 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.86%

Cash-on-Cash

-0.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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