{"id":1004052692,"date":"2011-10-11T09:36:47","date_gmt":"2011-10-11T17:36:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=20029"},"modified":"2022-12-04T23:42:36","modified_gmt":"2022-12-05T07:42:36","slug":"liberty-pays-36m-for-6-assets-sages-110m-faribault-plant-heads-for-home-stretch","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/liberty-pays-36m-for-6-assets-sages-110m-faribault-plant-heads-for-home-stretch\/","title":{"rendered":"Liberty Pays $36M for 6 Assets; Sage\u2019s $110M Faribault Plant Heads for Home Stretch"},"content":{"rendered":"<div class=\"mceTemp\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-20038  alignleft\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/10\/whitewater-dr.-office-image1.jpg\" alt=\"whitewater dr. office image\" width=\"300\" height=\"198\" \/><\/p>\n<p>By Camelia Bulea, Associate Editor<\/p>\n<\/div>\n<p>Liberty Property Trust recently wrapped a $36 million investment that further expands its office and industrial holdings in the Twin Cities market. On Sept. 30,\u00a0the Malvern, Penn.-based REIT paid\u00a0$11 million for three office\u00a0buildings\u00a0in the Minnetonka Corporate Campus, including 12800 Whitewater Drive (pictured).<\/p>\n<p>In a statement, Liberty senior vice president &amp; city manager Dan Jellison called the acquisition &#8220;part of our strategy to purchase under-leased properties and bring our leasing expertise to bear.&#8221;\u00a0The three buildings, with a total area of 231,000 square feet, are located in the Twin Cities&#8217; Southwest submarket, where Liberty\u00a0has significant holdings.<\/p>\n<p>In two\u00a0other transactions totaling $25 million, Liberty acquired\u00a0three industrial buildings\u00a0 totaling 450,239 square feet:<\/p>\n<ul>\n<li>Rogers Distribution Center, a 147,160-square-foot, three-year-old multi-tenant facility in Rogers that is\u00a041 percent occupied<\/li>\n<li>9000 109th Ave. N. in Champlin, a 221,750-square-foot facility built in 1995 and renovated in 2005<\/li>\n<li>Cedar Bluffs Business Center I in Eagan, an 81,329-square-foot facility built in 2005 and 76 percent occupied<\/li>\n<\/ul>\n<p>Liberty acquired the\u00a0Rogers facility from Artis Real Estate Investment Trust, and bought the Champlin and Eagan properties from KBS Realty Advisors, the\u00a0<em>Finance &amp; Commerce<\/em> business\u00a0newspaper reported. All told, Liberty&#8217;s holdings in Minnesota encompass 4.2 million square feet of office, industrial and flex space.<\/p>\n<p>In other news, Sage Electrochromics Inc., a maker of\u00a0energy-efficient\u00a0windows,\u00a0will soon be able to start installing\u00a0equipment in\u00a0its new $110 million manufacturing plant\u00a0in Faribault. By the end of this year, the company will also be able to move into 10,000 square feet of office space.<\/p>\n<p>Located next door to its present\u00a060,000-square-foot facility, the\u00a0324,000-square-foot plant is\u00a0about\u00a070 percent complete. According to the\u00a0<em>StarTribune<\/em>, last year Sage received $72 million in federal loan guarantees\u00a0for the\u00a0project.\u00a0 Sage is also\u00a0receiving $31 million in federal Advanced Energy Manufacturing Tax Credits.\u00a0Once complete, the building is in line\u00a0to earn LEED Silver certification from the U.S. Green Building Council.<\/p>\n<p>\u00a0<em>Photograph of 12800 Whitewater Dr office courtesy of Liberty Property Trust<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Camelia Bulea, Associate Editor<\/p>\n<p>Liberty Property Trust recently wrapped a $36 million investment that further expands its office and industrial holdings in the Twin Cities market. On Sept. 30,\u00a0the Malvern, Penn.-based REIT paid\u00a0$11 million for three office\u00a0buildings\u00a0in the Minnetonka Corporate [&#8230;]<\/p>\n","protected":false},"author":271,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36076,21742],"tags":[],"class_list":["post-1004052692","post","type-post","status-publish","format-standard","hentry","category-minneapolis-st-paul","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Liberty Pays $36M for 6 Assets; Sage\u2019s $110M Faribault Plant Heads for Home Stretch - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/liberty-pays-36m-for-6-assets-sages-110m-faribault-plant-heads-for-home-stretch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Liberty Pays $36M for 6 Assets; Sage\u2019s $110M Faribault Plant Heads for Home Stretch\" \/>\n<meta property=\"og:description\" content=\"By Camelia Bulea, Associate Editor Liberty Property Trust recently wrapped a $36 million investment that further expands its office and industrial holdings in the Twin Cities market. On Sept. 30,\u00a0the Malvern, Penn.-based REIT paid\u00a0$11 million for three office\u00a0buildings\u00a0in the Minnetonka Corporate [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/liberty-pays-36m-for-6-assets-sages-110m-faribault-plant-heads-for-home-stretch\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-11T17:36:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T07:42:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/10\/whitewater-dr.-office-image1.jpg\" \/>\n<meta name=\"author\" content=\"Camelia Bulea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/liberty-pays-36m-for-6-assets-sages-110m-faribault-plant-heads-for-home-stretch\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/liberty-pays-36m-for-6-assets-sages-110m-faribault-plant-heads-for-home-stretch\/\",\"name\":\"Liberty Pays $36M for 6 Assets; 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