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Standard Commercial has been retained as exclusive advisor to market for sale to qualified investors the 100% fee simple interest in the Brooklyn Crossing Office Park (the "Property"), located at the northeast corner of Brooklyn Blvd. and Bass Lake Road (County Rd. 10) in Brooklyn Center, Minnesota, a northwestern suburb of Minneapolis.
Highlights
The office park consists of one (1) five-story office tower and four (4) single-story office buildings
Approximately 90,000 SF across 5 buildings
Heavy parking, and a new 10-year lease with Hennepin County gov offices who invested $1 million in buildout
Other tenants include Soo-Line Credit Union, Mintalar DDS, and the United States Social Security Administration
81% occupied, mix of term and m-t-m tenants
Net operating income 2018 of $769,335
Great value-add potential
Well-below replacement cost
Parts of the surrounding area fall within census tracts designated as a Qualified Opportunity Zone ("QOZ") and are the target of large amounts of redevelopment capital seeking tax breaks. subject property not in a QOZ)
The subject property is approximately 81% occupied
The office park consists of one (1) five-story office tower and four (4) single-story office buildings. The five buildings combined offer a total of approximately 90,000 rentable square feet (RSF) and are 81% occupied by a mix of County and Federal Government and professional services tenants, including Hennepin County offices, The United States Social Security Administration, Soo Line Credit Union, Mintalar DDS, and Goodness and Mercy Health Services. The Property is adjacent to the Shingle Creek Crossings shopping center, and (as of today) an unnamed, new 261-unit workforce and senior housing development. Clients and employees of the campus' businesses benefit from its positioning just south of I 94/694 and just west of HWY 100, which provides easy access to all areas of the Minneapolis-St. Paul metro. The subject property is approximately 81% occupied.
Brooklyn Crossing Office Park is located at the northeast corner of Brooklyn Blvd. and Bass Lake Rd. (County Rd. 10) in Brooklyn Center, Minnesota, about 15 minutes northwest of downtown Minneapolis.
PRICE: Negotiable BUILDING SIZE: 90,000 SF PROPERTY TYPE: Office
TOTAL LOT SIZE: 7.47 Acres NOI: $769,335
CONTACT BROKER:
Harrison Wagenseil - Standard Commercial
harrison@standardcommercial.us (C) 612-280-0096 (O) 612-509-4124 x101