JLL closes sale and financing of a seven-property industrial portfolio in the Twin Cities

 

Erin Fitzgerald

MINNEAPOLIS, MN – JLL Capital Markets has closed the sale of and arranged acquisition financing for a seven-property industrial portfolio totaling 376,218 square feet in Roseville, Oakdale and Woodbury, Minnesota. Financials of the deal were not disclosed.

 

JLL marketed the portfolio on behalf of the seller, Link Logistics, procured the buyer, Minneapolis-based Biynah Industrial Partners, and arranged the acquisition financing.

 

Colin Ryan

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Colin Ryan and David Berglund and Senior Director Erin Fitzgerald.

 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Directors Matthew Schoenfeldt and Scott Loving and Director Lucas Borges.

 

The portfolio is 96% occupied by 18 tenants covering a wide range of industries, including medical technology, manufacturing, building materials, apparel accessories and more.

David Berglund 

This is on par with the market’s total vacancy, which JLL’s Industrial Insights Minneapolis-St. Paul Q3 2022 notes as 4.5%, resulting from the strong tenant demand in the area with 11 million square feet of tenants actively in the market.

 

The buildings offer 17’-20’ clear heights, an average of seven dock doors each, ample car parking and market office finish. The properties include:

 

·       6744 33^rd St. North, Oakdale, MN

·       6866 33^rd St. North, Oakdale, MN

·       Carver Lake, 2280-2310 Ventura Dr., Woodbury, MN

·       Gateway Business Center, 2100-2140 West County Rd. C, Roseville, MN

·       Granada I Business Center, 3350 Granada Ave. N, Oakdale, MN

·       Granada II Business Center, 3400 Granada Ave. N, Oakdale, MN

·       Granada III Business Center 3220 Granada Ave. N, Oakdale, MN

 

Matthew Schoenfeldt

The assets are well located within infill submarkets inside the Interstate 494/694 loop and are within a 20-minute drive of downtown Minneapolis and St. Paul.

 

Tenants of the properties are positioned to reach millions of people in major cities within a few hours’ drive, including Madison (3.5 hours), Milwaukee (4.5 hours) and Chicago (6 hours).

 

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 

Scott Loving

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.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

About Biynah Industrial Partners

 

Biynah Industrial Partners (BIP) is a Minneapolis based private equity firm that makes direct investments in industrial real estate located throughout the United States.

Lucas Borges

BIP’s primary focus is directly investing in U.S. industrial real estate. The properties BIP acquires are well-located, highly functional, and purchased at a discount to replacement cost. 

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

 JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit .

 

 

 

 CONTACT

 

Cierra Lacasse

 JLL Associate

Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

 

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