Minneapolis, Minnesota – (July 22, 2013) CBRE announces the sale of 5655 Eleventh Avenue East
Shakopee, Minnesota for $11.35 Million. The property is a “Class A” 162,618 square foot distribution center built in 1999 that is currently 100% occupied by two tenants.
The seller, Capstone Quadrangle, was represented by the CBRE Institutional Group in Minneapolis led by Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver. Capstone Quadrangle is a commercial real estate development firm founded over eighteen years ago, with partners in Milwaukee and Chicago, and with projects or offices in the metro markets of Minneapolis/St. Paul, Chicago, Milwaukee, San Francisco, Kansas City, Indianapolis, and others. Capstone Quadrangle’s focus on industrial, office, and outpatient medical projects attracts both private equity and institutional capital. In the Minneapolis market, Capstone Quadrangle also owns a 20 acre development parcel in the northwest suburb of Brooklyn Park, being marketed by CBRE for industrial projects.
The Minneapolis based team of Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver focuses on the disposition of single-tenant and multi-tenant industrial and office properties. Steven, Tom and Ryan are part of the 85-member CBRE Institutional Group. In 2012, the Capital Markets enterprise of CBRE including the Institutional Group completed over $116.9 billion in combined total global capital activity.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.