MINNEAPOLIS– JLL Capital Markets announced that it has closed the sale of a 164,701-square-foot, single-tenant distribution and warehouse facility fully leased to Logistics Insight Corp. in the Minneapolis suburb of Shakopee, Minnesota.
JLL marketed the property on behalf of the seller, Interstate Development. An affiliate of Boston-based STAG Industrial, Inc. acquired the asset.
Logistics Insight Corp. is a wholly owned subsidiary of Universal Logistics Holdings, Inc., which is a full-service provider of customized transportation and logistics solutions. The one-building, front-load facility was constructed in 1984 and most recently renovated in 2020. It offers the tenant a clear height ranging from 20 to 21 feet, 19 dock-high doors, one drive-in door, LED lighting, low office finish and ample parking, in addition to approximately 1.5 acres of outside storage capacity.
Positioned on 11.01 acres at 5101-4901 Valley Industrial Blvd., the facility is in Shakopee, a growing and prominent southwest Twin Cities community 25 miles from downtown Minneapolis. It is located at the intersection of County Road 101 and Highways 169 and 13, which provides easy access to the Twin Cities’ 3.6 million residents. This booming area is projected to obtain a 31 percent population growth between 2010 and 2040, and it is well on its way given its nearly 9 percent growth logged between 2010 and 2019.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors and Minneapolis Capital Markets Co-Heads Colin Ryan and David Berglund.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.