SR Realty Trust Closed on Two Industrial Properties
June 18, 2021
(Minneapolis, MN) – SR Realty Trust, Inc. (SRRT) is pleased to announce the acquisition of two net leased industrial properties in the Twin Cities market, one in St. Michael and another in Eagan.
Together these acquisitions added approximately 260,000 square feet to SRRT’s Minneapolis/St. Paul market holdings and brings its portfolio to three million square feet.
The property in St. Michael, located at 12070 43rd Street Northeast, is a 98,000 square foot office/warehouse building leased to a specialty manufacturing company.
The property in Eagan, located at 2926 Lone Oak Circle, includes 160,000 square feet of rail-served warehouse, production, and storage space, as well as roughly 6-acres of outside storage.
As part of the St. Michael transaction, SR Realty Trust, Inc. facilitated 1031 exchanges for three investors.
“SR Realty Trust continues its push into the industrial space, and we believe these recent acquisitions represent tremendous long-term value for our partners and shareholders,” said Evan Richardson, Senior Vice President – Investments.