Minnesota facility fetches $4.85 million
According to Minnesota Department of Revenue records, the U.S. Lumber yard in Big Lake, Minn., just sold for $4.85 million.
Investors from Stillwater, Minn., purchased the property, per Finance & Commerce, which elaborated on the deal:
The single-tenant, net lease property includes six buildings totaling 92,928 square feet, located on 19.41 acres with rail service at 19661 172nd St. NW., Big Lake.
The seller was represented by Jon Rausch, Ben Drew, Amber Vickerman and William Melin of the Bloomington office of Cushman & Wakefield. The buyer was represented by Mackenzie Damerow with Hoyt Properties in Minneapolis.
The deal, which equates to $52.19 per square foot, was sealed by buyers from: Big Lake Equity LLC; Next Gen Exchange LLC; 3601 13th Avenue Exchange LLC; Midwest Industrial Ventures LLC; Harriet Investment Exchange LLC; and Owatonna. The seller was listed as MLM Big Lake LLLLP, Stillwater.
For more details on the transaction, view the Minnesota Department of Revenue's Certificate of Real Estate Value summary here.
