Cabot Properties Incorporation ha acquired a two building, core plus, Class A logistics portfolio in Rogers, Minnesota. It is totaling 386,295 square feet, for $26.1 million from The Meritex Company.
The two buildings include 12999 Wilfred Lane, located about 25 miles from downtown Minneapolis. CBRE Capital Markets facilitated the deal.
Both properties in the portfolio feature 32-foot clear institutional quality space. At the time of the deal, the Class A buildings were 88 percent leased.
CBRE’s team representing the sellers in the deal also included Ryan Watts, Sonja Dusil and Tom Holtz.
In September, Cabot Properties acquired Bridge Point 290 Business Park, an 899,278 square foot, three building industrial property in the Chicago are from Brigde Development Partners and its joint venture partner, Banner Oak Capital Partners.
Source: CP Executive