435 Ford, LLC Acquires Office Building In St. Louis Park From Wings Credit Union For $2.88M

The property asset involved in this transaction is an office building located at 435 Ford Road in St. Louis Park, MN. The building, built in 1981, encompasses a total square footage of 206,656 and was sold for $2,880,000, which equates to approximately $14 per square foot. The asset had a vacancy rate of around 75% at the time of the sale.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $2,880,000
• Address: 435 Ford Road
• Market: St. Louis Park, MN
• Square Footage: 206,656
• Price Per Square Foot: $14
• Buyer: 435 Ford, LLC
• Seller: Wings Credit Union
• Brokers: Ryan Watts, Harrison Wagenseil, Jim Freytag, Brian Wasserman, and Brian Pankratz - CBRE

This transaction was executed in a distressed suburban office market, facilitating the transfer of ownership from Wings Credit Union to 435 Ford, LLC. The sale was represented by the CBRE brokerage team, which included notable professionals in the commercial real estate industry.