{"id":1004288630,"date":"2018-12-28T07:03:18","date_gmt":"2018-12-28T15:03:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004288630"},"modified":"2022-12-07T20:12:33","modified_gmt":"2022-12-08T04:12:33","slug":"minneapolis-area-logistic-centers-command-26m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/minneapolis-area-logistic-centers-command-26m\/","title":{"rendered":"Minneapolis-Area Logistic Centers Command $26M"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004288645\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004288645\" data-attachment-id=\"1004288645\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/minneapolis-area-logistic-centers-command-26m\/minneapolis-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg\" data-orig-size=\"1024,768\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"minneapolis\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg?w=1024\" class=\"wp-image-1004288645 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/minneapolis-e1546008838329.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004288645\" class=\"wp-caption-text\">12999 Wilfred Lane<\/p><\/div>\n<p>Cabot Properties Inc. has acquired a two-building, core-plus, Class A logistics portfolio in Rogers, Minn., totaling 386,295 square feet, for $26.1 million from The Meritex Company.<\/p>\n<p>The two buildings include 12999 Wilfred Lane, located about 25 miles from downtown Minneapolis. CBRE Capital Markets facilitated the deal.&nbsp;<\/p>\n<p><em>\u201cThe offering received a very positive response from high profile capital sources supporting a renewed interest in the Rogers submarket from institutional industrial investors,\u201d <\/em>said Judd Welliver, CBRE\u2019s senior vice president, in a prepared statement. <em>\u201cThis is a re-entry into Minneapolis for Cabot and allows Meritiex to reposition its industrial portfolio for continued growth in development and newer generation properties.\u201d<\/em><\/p>\n<p>CBRE\u2019s team representing the sellers in the deal also included Ryan Watts, Sonja Dusil and Tom Holtz.<\/p>\n<p>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.&nbsp;<\/p>\n<h2><strong>Logistics Are Strong<\/strong><\/h2>\n<p>In JLL\u2019s most recent U.S. industrial market statistics, trends &amp; outlook report, the industrial market throughout the U.S. continues the momentum seen in the first half of 2018, with annual rental increases of 6.3 percent.<\/p>\n<p>CBRE\u2019s third quarter Midwest Industrial MarketView Snapshot noted new construction activity is strong in the industrial segment, with 40.2 million square feet completed in 2018 year-to-date.&nbsp;<\/p>\n<p>In September, Cabot Properties <a href=\"https:\/\/www.commercialsearch.com\/news\/cabot-properties-buys-chicago-area-industrial-park\/\">acquired Bridge Point 290 Business Park<\/a>, an 899,278-square-foot, three-building industrial property in the Chicago area from Bridge Development Partners and its joint venture partner, Banner Oak Capital Partners.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE Capital Markets facilitated the sale of a 386,295-square-foot core-plus portfolio to Cabot Properties. The buildings were 88 percent leased at the time of the acquisition.<\/p>\n","protected":false},"author":451,"featured_media":1004288645,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,13,36076,21742],"tags":[33920,35046,43256],"class_list":["post-1004288630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-midwest","category-minneapolis-st-paul","category-latest","tag-cabot-properties","tag-cbre-capital-markets","tag-the-meritex-company"],"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>Minneapolis-Area Logistic Centers Command $26M - 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\/minneapolis-area-logistic-centers-command-26m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minneapolis-Area Logistic Centers Command $26M\" \/>\n<meta property=\"og:description\" content=\"CBRE Capital Markets facilitated the sale of a 386,295-square-foot core-plus portfolio to Cabot Properties. 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