CBRE said Wednesday it has sold a big Class A distribution center in Shakopee for $11.7 million.
The 162,618-square-foot distribution center, built in 1999, is 100 percent occupied with two tenants. The seller was Capstone Quadrangle, a commercial real estate development firm founded over 18 years ago, is based in Waukesha, Wis., and specializes in industrial, office and outpatient medical projects. The buyer was not immediately disclosed.
In the Minneapolis market, Capstone also owns a 20-acre development parcel in Brooklyn Park that is being marketed by CBRE for industrial projects.
The CBRE team marketing the site included Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver, who focus on the disposition of single-tenant and multi-tenant industrial and office properties.
Janet Moore covers commercial real estate for the Star Tribune.