Westmount Realty Capital has purchased the West Tech Industrial Portfolio, a 316,752-square-foot portfolio of five office/warehouse buildings in the western and southwestern suburbs of Minneapolis.
The financial terms and the seller were not disclosed.
The portfolio is strategically located within the Twin Cities Medical Alley and Golden Triangle. Spanning 126,936 square feet, the class A Plymouth buildings were built in 2001. Eden Woods buildings were built in 1985 and are located in Eden Prairie in the southwest submarket. The Cedar building is a 65,484-square-foot flex building that is in the south-central submarket.
“Westmount looks for strategic opportunities in markets with strong tenant demand and growth that will bring great returns for us and our investors,” said Brian Scruggs, Westmount’s managing director of acquisitions. “Medical Alley and the Golden Triangle are some of the most coveted destinations for office tech and medical device/life sciences firms in Minneapolis. This portfolio provided a compelling acquisition opportunity for Westmount with its diversified rent roll and strong-credit tenancy.”
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