Institutional Property Advisors Exclusively Lists Industrial Asset in Suburban Minneapolis
“Evergreen Industrial is 100% occupied and features a fully entitled 33,280-square-foot industrial build-to suit opportunity,” said John Abuja, IPA senior vice president. “Growth opportunities for the asset are supported by the surrounding community’s transportation infrastructure, educated workforce, and pro-business attitude.” Abuja, IPA’s Bill Rose, and Max Mantey of Marcus & Millichap’s are representing the seller, Shopoff Realty Investments.
Evergreen Industrial is located between State Highways 47 and 610, which carry approximately 22,000 and 74,000 vehicles per day, respectively. Interstates 35, 94, and 90 serve the region, along with 21 railroad companies, including BNSF, Canadian National, Canadian Pacific, and Union Pacific. The Port of Minneapolis provides access to the Mississippi and Minnesota rivers, and air freight service is available at Minneapolis-Saint Paul International Airport and Frederick Douglass Greater Rochester International Airport. Target, Home Depot, Burlington, Aldi, and a multitude of national quick service restaurants and local retailers are nearby.
Built in 1986 on 23 acres, the property has 10-foot by 9-foot garage doors, 18-foot clear height, four-foot dock heights, and 1,024 parking spaces. Tenants at Evergreen Industrial include Omnetics Connector Corp., a privately held connector design and manufacturing company, MTL Holdings, a locally owned and operated third-party logistics company, and Allina Health, a nonprofit health system. Jon Ruzicka is Marcus & Millichap’s broker of record in Minnesota.
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Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.