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5500 Cenex Drive

CHS Inc. Repurchases Office Building In Inver Grove Heights From Truist Financial
SOLDOffice

CHS Inc. Repurchases Office Building In Inver Grove Heights From Truist Financial

5500 Cenex Drive

$48,800,000

Building Size

Asset Type

Office

Closing

Mar 1, 2024

AI

An office building located at 5500 Cenex Drive in Inver Grove Heights, MN, was recently involved in a transaction. The property, classified as a class B office space, was sold by Truist Financial to CHS Inc. for $48.8 million.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $48,800,000
  • Address: 5500 Cenex Drive
  • Market: Inver Grove Heights, MN
  • Buyer: Jay Debertin - CHS Inc.
  • Seller: Truist Financial
  • Broker: Jim Vos - Cresa

CHS Inc. has repurchased the office building mentioned above for $48.8 million, six years after originally selling it in a sale-leaseback deal. The property was initially sold for $55 million to SunTrust Robinson Humphrey, which later became Truist Financial. The recent transaction took place at a price $6 million lower than the original selling price.

Players

Jim Vos

Cresa

Broker

$48.8M

vol

1 deal

Broker

Inver Grove Heights 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

0.33%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93