TMCnet News
Nicola Wealth Real Estate enters new market with the acquisition of a significant industrial portfolio in Minneapolis/St. PaulMinneapolis, MN, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Nicola Wealth Real Estate (NWRE) has acquired the Minneapolis Industrial Infill Portfolio. This transaction, brokered by Mark Kolsrud and his team at Colliers, expands NWRE’s growing industrial portfolio with the firm’s entry into Minneapolis/St. Paul. The acquisition, comprised of the Minneapolis North Sub-Portfolio and the Dell 5 Sub-Portfolio, is a collection of 22 well-located industrial and flex-industrial buildings totaling 1,915,637 sf on 151 acres of land. The multi-tenant portfolio is geographically diverse in the Minneapolis/St. Paul market which boasts a low vacancy rate of 3.6% (as of Q2 2021) on an existing inventory of approximately 374 million square feet. “We are excited to expand our US industrial footprint in an established and stable market such as Minneapolis,” says Matthew Schaeffers, Director of Acquisitions atNicola Wealth Real Estate. “This acquisition presents an opportunity to add a diversified portfolio in a low vacancy environment that offers attractive risk-adjusted returns. These assets provide immediate scale complementary to our overall cluster strategy in established and promising markets.” NWRE continues to concentrate its growth in major US markets such as Las Vegas, Phoenix, Seattle, Denver, San Francisco, and now Minneapolis with a focus on acquiring income-producing properties and executing development and value-add strategies. To learn more about the Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com
Attachment Victoria Emslie Nicola Wealth 604-484-1286 [email protected] |