Mid-Continent Engineering Sale Leaseback
405 35th Avenue Northeast, Minneapolis, MN, 55418, US
12,906 m²
Asset Description
Jones Lang LaSalle ("JLL"), as exclusive advisor to the Owner, is pleased to present to investors the opportunity to acquire Eastridge Business Center, an exceptional investment opportunity in Woodbury's thriving industrial market. This brand-new, Class A multi-tenant industrial facility offers 179,762 square feet of prime low-finish space, developed by a best-in-class developer renowned for delivering high-quality assets.
Eastridge Business Center represents a rare opportunity to acquire a newly constructed, partially leased industrial asset in one of the most sought-after submarkets. With its strategic location, quality construction, and the area's robust economic indicators, this property is well-positioned for strong, stable returns and long-term appreciation.
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Attributes
Building area net
16,700 m²
Tenants
2
Occupancy
59%
WALT
10 years
Year built
2023
Building class
A
Clear height
8.53 m
Land area gross
4.86 ha
Media
Investment Highlights
- Facility is currently 59% occupied with two tenants providing a stable income stream with significant upside potential through lease-up of remaining vacancy
- In place lease agreements include annual rent escalations of at least 3.5%
- WALT of 10 years, providing investors exceptional income security
- Part of broader Minneapolis - Saint Paul industrial market, which saw 3.2M SF of net absorption in 2024
- Constructed by a top-tier developer, ensuring premium build quality and long-term asset performance
- Located in one of Minnesota's fastest-growing cities with 25% population growth in the past decade
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Last updated
23 Apr 2025
