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CBRE <br />MARKETVIEW MINNEAPOLIS/ST. PAUL INDUSTRIAL <br />SINGLE PROPERTY SALES DOMINATE Q1 <br />Q1 2017 sales activity consisted of all single tenant <br />transactions totaling $69 million in total volume. <br />The largest was Lake Point Distribution Center in <br />Plymouth at 15300 25th Ave., which sold for $83 <br />per sq. ft. between United Properties and private <br />capital source. <br />Southeast Corporate Center, 2250 Pilot Knob Road <br />in Mendota Heights, was the second largest sale in <br />terms of price. The 58,333-sq.-ft. building sold for <br />$126 per sq.-ft. to Spectrum Development Group <br />by Alidade Capital. <br />Of the 14 sales during Q12017, half were <br />purchased for occupancy by owner/users. As a <br />comparison, Q1 2016 saw only one third of <br />purchased by users. <br />Figure 4: Top Investment Sale Transactions <br />INVESTMENT EXPECTATIONS <br />CBRE expects 2017 industrial sale velocity to <br />increase in Q3 and Q4 with several offerings <br />currently in the market or under contract. Pricing <br />on core industrial offering will continue to be <br />competitive and achieve record high pricing <br />through the first three quarters of 2017. <br />Figure 3: Southeast Corporate Center <br />Source: CBRE Research, Q1 2017. <br />Property <br />Buyer <br />Sale Price (S) / Size (Sq. Ft.) City <br />Transaction Type <br />Lake Point Distribution Center <br />Haleakala Ranch Co <br />8,185,500 / 97,446 Plymouth <br />Property <br />Southeast Corporate Center <br />Spectrum Dev Group <br />7,350,000 / 58,333 Eagan <br />Property <br />2500 County Road C West <br />Stan Koch & Sons Trucking <br />Inc. <br />7,020,000 / 60,000 Roseville Property <br />20240 South Diamond Lake Rd <br />Commercial Partners <br />Exchange <br />7,000,000 / 154,821 Rogers Property <br />8650 109th Ave North <br />Source: CBRE Research, Q1 2017. <br />Crown Equipment Inc. <br />5,350,000 / 82,307 Champlin Property <br />Q1 2017 CBRE Research © 2017 CBRE, Inc. I 3 <br />