Duke Realty Corp Sells Retail Property In Minneapolis For $64.8M
1621 West End Boulevard, Minneapolis, Minnesota 55416, United States
$64,800,000
$170,078/SF
Building Size
381 SF
Asset Type
Retail
Closing
Jan 13, 2023
AI
The retail property located at 1621 West End Blvd in Minneapolis, Minnesota has been sold for a total price of $64,800,000. The property spans over 381,804 square feet, resulting in a price per square foot of $170. The sale was completed on January 13, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $64,800,000
- Address: 1621 West End Blvd, Minneapolis, Minnesota
- Market: Minneapolis, Minnesota
- Seller: Duke Realty Corp
- Sale Date: 01/13/2023
- Brokers: Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder - Atlantic Capital Partners; Kris Schisel & Anthony Strauss - Transwestern
- Square Footage: 381,804
- Price per Square Foot: $170
The sale involved multiple brokers representing the parties in the transaction. Justin Smith, Chris Peterson, Sam Koonce, and Cole Van Gelder from Atlantic Capital Partners, as well as Kris Schisel and Anthony Strauss from Transwestern, played crucial roles in facilitating the deal.
Players
Minneapolis Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93