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1621 West End Boulevard, Mi...

Duke Realty Corp Sells Retail Property In Minneapolis For $64.8M
SOLDRetail

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

Justin Smith

Atlantic Retail

Broker

$627.5M

vol

31 deals

Broker
Duke Realty
Duke RealtyBrokerage
Duke Realty
Duke RealtySeller

Minneapolis Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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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