Description

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, is pleased to offer for sale the fee-simple interest in the River Edge Distribution Center (the "Offering" or the "Property"), a 250,117 SF brand-new industrial facility located 10 miles north of downtown Minneapolis. Delivered in the fall of 2026, the Property was purpose-built to institutional Class A specifications, featuring 36' clear heights, an efficient 1.6% office finish, and 23 dock doors. The Property also features 57 trailer stalls with outdoor storage zoning, an increasingly scarce and highly sought-after feature within infill Twin Cities markets. Situated within one of the tightest industrial submarkets in the Midwest, the Property benefits from Fridley's established industrial infrastructure, direct access to Hwy-47 and the broader Twin Cities freeway network, and deep regional labor pool. With 7.5 years of term remaining, the asset provides investors with a durable, in-place income stream secured by a functional lease structure. Sitting at the forefront of unprecedented tenant demand and constrained new supply across the Twin Cities industrial market, the River Edge Distribution Center represents a rare opportunity to acquire a state-of-the-art, highly functional, nearly irreplaceable industrial asset in a location with extremely high barriers to entry.

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Attributes

Building area net

23,237 sm

Occupancy

100%

WALT

7.5 years

Clear height

10.97 m

Year built

2026

Building class

Parking spaces

147

Dock Doors

Media

Investment highlights

Brand-New, Class A+ Construction

23 dock doors and 2 drive-in doors, paired with a 130' deep truck court and a 60' concrete apron, deliver superior loading and circulation efficiency.
36' clear height, 50' x 50' column spacing, and precast construction with an insulated (R-30) EPDM roof, support efficient racking and material handling while minimizing long-term capex exposure.

Low-Finish, Infill Product In the Hottest Twin Cities Submarket

Located in Fridley, MN within an established infill industrial corridor benefitting from direct access to I-694 and the broader Minneapolis-St. Paul freeway network, with limited opportunities for new industrial development.
At just a 1.6% office finish (4,042 SF), the Property is highly efficient and cost-effective to operate, minimizing tenant occupancy costs relative to heavier-finish alternatives while maximizing usable warehouse/distribution area.

Strong In-Place NOI Growth with Rare Outdoor Storage Zoning

The lease features contractual annual rent escalations of 3.5%, driving predictable NOI growth 37.44% over the lifespan of the hold period.
The Property includes 57 trailer stalls with outdoor storag zoning, a rarity for infill Twin Cities industrial product. The current tenant does not pay for the area, giving incoming ownership a clear path to incremental NOI upon lease expiration through separate leasing or expansion of the existing tenant's footprint.