Maple Grove, Minnesota – 97,388 SF Suburban Office Building Acquisition, 100% Owned by WRP I

opportunity

A 97,388 SF, Class A suburban office building located in Maple Grove, MN, a northwest suburb of Minneapolis, MN. The asset featured 10-foot ceilings, building signage along Interstate 494,on-site cafeteria and abundant parking.Following the acquisition of the building while vacant,the entire building was leased to St. Jude Medical for an 11-year term, with Abbott Laboratories (NYSE: ABT) guaranteeing the lease. Maple grove was sold to Syndicated Equities in August 2019, generating an IRR of 23.9% and an Equity Multiple of 2.5 to 1.

Property

Suburban Office

Building

Size

97,388 SF

Built

2005/2015

Ownership

100% WRP I

Sold

August 2019

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