A net leased 350,000 square foot industrial facility at 1301 Industrial Boulevard in Northeast Minneapolis was acquired by SR Realty Trust. The building is located on a 20.45-acre parcel in the heart of the Mid-City Industrial Park in NE Minneapolis. It was built in 1970 and features 22′-26′ clear heights, 33 loading docks, and less than 5% office finish. Additionally, the site contains approximately 300,000 square feet of outdoor storage area.
1301 Industrial Blvd was acquired in a sale-lease back transaction. The seller signed a 10-year NNN lease covering 100% of the property. The acquisition closed on October 12, 2017 and was contributed by the owner through an UPREIT transaction.
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