Minneapolis West
Tech Portfolio

The West Tech Portfolio contains five light industrial/office tech buildings located in the desirous western suburbs of Minneapolis. Two buildings are in Plymouth within the northwest submarket, two buildings in Eden Prairie within the southwest submarket, and one building in the south-central submarket of Minneapolis. The buildings were constructed in 1982, 1985, and 2001 with approximately 75% average office finish. Total square footage of the portfolio is 316,752 SF.

The buildings are situated in both the “Medical Alley” and “Golden Triangle”, two of the most coveted destinations for light industrial/office tech product in the Minneapolis/St. Paul market. Medical Alley is the premier destination for medical device/life sciences firms in the northwest submarket along I-494 and I-694. The Golden Triangle is the premier infill destination for medical device/life sciences companies in the southwest submarket. This portfolio amasses scale and exposure to both supply-constrained micro-markets.

At the time of acquisition in mid-2022, the portfolio was 81% occupied by 13 tenants with a weighted average lease term (WALT) of 3.4 years. The combination of value-add potential, elite anchor tenancy, exposure to desirous micro-markets, and below-market in-place rental rates make the West Tech Portfolio a promising addition to the Westmount portfolio.