Link Logistics Sells Twin Cities Industrial Portfolio – Commercial Property Executive

6744-6866 33rd St. N. Image courtesy of JLL

Link Logistics has sold a seven-building, 376,218-square-foot industrial portfolio spread across Oakdale, Woodbury and Roseville, Minn., to Biynah Industrial Partners. JLL Capital Markets represented the seller, procured the buyer and also arranged an acquisition loan.

The seven properties feature 17- to 20-foot clear heights, vehicle parking spots, office finishes and an average of seven dock doors per building. Five properties are located in Oakdale:

  • 6744 33rd St. N.
  • 6866 33rd St. N.
  • Granada I Business Center, 3350 Granada Ave. N.
  • Granada II Business Center, 3400 Granada Ave. N.
  • Granada III Business Center, 3220 Granada Ave. N.

The other two assets—Carver Lake and Gateway Business Center—are in Woodville and Roseville, respectively. At the time of the sale, 96 percent of the portfolio was occupied by 18 tenants, specializing in a diverse range of industries, from manufacturing to medical technologies.

READ ALSO: Trends That Will Shape Industrial Real Estate in 2023

All the facilities are situated in infill submarkets, roughly 19 miles from Minneapolis and within 12 miles of St. Paul, Minn. Due to the portfolio’s location, present tenants have access to major cities within the area, including Milwaukee and Madison, Minn.

JLL Capital Markets Debt Advisory team led by Managing Directors Matthew Schoenfeldt and Scott Loving, together with Director Lucas Borges, negotiated on behalf of the borrower, while the company’s Investment Sales Advisory team including Senior Managing Directors Colin Ryan and David Berglund, as well as Senior Director Erin Fitzgerald, worked on behalf of Link Logistics.

Past deals

In May 2022, Link Logistics was involved in a high-scale disposal in Broward County, Fla. The company sold a fully occupied three-building industrial portfolio, encompassing almost 740,000 square feet. The company got $170.1 million for the Amazon-anchored portfolio.

Later last year, Link Logistics paid $82.3 million for an eight-building industrial portfolio in the Minneapolis-St. Paul area.

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