SR Realty Trust Acquires North Loop Warehouse
June 26, 2017
SR Realty Trust is pleased to announce the successful acquisition of the Zuccaro Produce building located in the North Loop neighborhood of Minneapolis.
The building was built in 1922 and is currently occupied by a light industrial user. Three additional stories will be added to the building, while it is converted into creative office space. Construction on the 64,191 sq. ft. creative office redevelopment is expected to begin in August and will last 9-10 months.
The acquisition closed on May 22, 2017 and SR Realty Trust partnered on the acquisition with an entity controlled by Schafer Richardson. SR Realty Trust purchased its interest in the project using proceeds from a Section 1031 exchange.