**CBRE Arranges Sale and Financing for 220,000-Square-Foot Industrial Portfolio in Twin Cities**
CBRE has successfully arranged the sale and acquisition financing of a 220,244-square-foot industrial portfolio comprising four properties across the greater Twin Cities metropolitan area. The portfolio was sold by Big River Real Estate to an undisclosed buyer for $25.225 million.
Representing the seller in the transaction were CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan, and Michael Caprile. In addition, CBRE Capital Markets’ Debt and Structured Finance team in Minneapolis, led by Billy Mork and Mike Vannelli, secured a five-year, fixed-rate, full-term interest-only $15 million loan on behalf of the buyer.
“The buyer is a new investor to the Twin Cities metro, a common theme we’ve seen with industrial offerings over the past several months,” said Bentley Smith. “Minneapolis continues to be a top target for national industrial investors.”
The portfolio includes the following properties:
– 1971 Seneca Road, Eagan, Minnesota
– 1420–1464 Cliff Road, Burnsville, Minnesota
– 3830 Cheatham Avenue, Minneapolis, Minnesota
– 1441 First Avenue NW, New Brighton, Minnesota
This transaction underscores the continued strength and growing interest in the Twin Cities industrial market, particularly from out-of-state investors seeking to capitalize on the region’s favorable economic fundamentals.
