Spacemax Offices - Fridley LLC Acquires Office Building From Yellow Brick Road Investments LLC For $6.935M
6499 University Avenue Northeast
$6,935,000
Building Size
—
Asset Type
Office
Closing
Aug 21, 2026
About this deal
AI
The property asset involved in this transaction is located at 6499 University Avenue Northeast in Fridley, MN. The asset type is an office building with a total area of 74,160 square feet. The sale price for the property was $6,935,000, which reflects significant appreciation compared to its previous purchase price of $2.95 million in 2024, following a rise in occupancy to 95%.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,935,000
- Buyer: Spacemax Offices – Fridley LLC
- Seller: Yellow Brick Road Investments LLC; MJH Property LLC; Ambrasas Investments LLC; Bulldogs LLC
- Broker: Tom Dunsmore - Colliers
Colliers represented Spacemax Offices – Fridley LLC in this transaction, ensuring a successful sale of the property. The involved companies and individuals, including the multiple sellers, played crucial roles in facilitating the deal, reflecting a dynamic commercial real estate landscape in Fridley.
Players
North East 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
2.29%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93