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Fidelis Acquires Retail Property In Roseville, Minneapolis For $50.3M

Property Image
SOLD
$50,250,000
Richard Frolik
James (Jim) Leary
+ 4

Minnesota

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Retail446,000 SF
Sold 09/23/2022
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Property Image
SOLD

Fidelis Acquires Retail Property In Roseville, Minneapolis For $50.3M

2100 Snelling Avenue North, Roseville, Minnesota 55113, United States

See Similar Deals
Retail446,000 SF
Sold 09/23/2022
Richard Frolik
James (Jim) Leary
+ 4
Contact now

Summary

MINNESOTA
Asset Type:Retail
Price Per Square Foot:$112
Total Square Footage:446,000 SF
Transaction Type:Sale

Located at 2100 Snelling Ave N in Roseville, Minneapolis, this retail property was recently sold in a transaction worth $50,250,000. The property spans across 446,000 square feet, resulting in a price per square foot of $113. The sale took place on September 23, 2022, and involved Fidelis as the buyer and Gateway Washington as the seller.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $50,250,000
  • Address: 2100 Snelling Ave N, Roseville, Minneapolis
  • Square Footage: 446,000
  • Price per Square Foot: $113

The buyer, Fidelis, was represented by Christian Williams, George Good, Robert Mahoney, Richard Frolik, Michael Kaider, Adam Foret, and James Leary from CBRE. On the other hand, Gateway Washington was represented by its own team, including Christian Williams, George Good, Robert Mahoney, Richard Frolik, Michael Kaider, Adam Foret, and James Leary from CBRE. The involvement of these brokers highlights their role in facilitating the transaction.

Players

George Good
10 deals$273M volume
BROKER

Christian (Chris) Williams
CBRE
16 deals$434.4M volume
BROKER

Michael Kaider
CBRE
3 deals$97.1M volume
BROKER

Robert Mahoney
CBRE
1 deal$50.3M volume
BROKER

Richard Frolik
CBRE
5 deals$212.1M volume
BROKER

Adam Foret
CBRE
3 deals$75.4M volume
BROKER

James (Jim) Leary
CBRE
1 deal$50.3M volume
BROKER

BUYER

Details

SOLD
IMAGE: Michael Kaider, Robert Mahoney, Christian Williams, George Good, James Leary, Adam Foret & Richard Frolik DATE: 09/23/2022 ADDRESS: 2100 Snelling Ave N MARKET: Roseville, Minneapolis ASSET TYPE: Retail BUYER: Fidelis SELLER: Gateway Washington BROKERS: Christian Williams, George Good, Robert Mahoney, Richard Frolik, Michael Kaider, Adam Foret & James Leary - CBRE (@CBRE) SALE PRICE: $50,250,000 SF: 446,000 ~ PPSF: $113

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,680,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$178,527.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$238,210.64
Annual Debt Service$2,858,527.64