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Duke Sells 1M-SF Twin Cities Portfolio

MINNEAPOLIS-St. Louis-based Commercial Development Co. bought the portfolio of 23 industrial and two office buildings in suburban Twin Cities locations.

By Jim McCartney | Updated on January 05, 2004

MINNEAPOLIS-Duke Realty Corp. has sold a 1.2-million-sf real estate portfolio consisting of mostly suburban industrial buildings here. St. Louis-based Commercial Development Co. bought the portfolio for an undisclosed price. At the time it was put on sale, however, industry sources said the asking price was around $60 million.

The portfolio includes 25 buildings–two office buildings and the rest industrial–located throughout the Twin Cities suburbs of Eagan, Burnsville, Bloomington, Edina, Minnetonka, New Hope and Fridley.

Mark Kolsrud, SVP at the Twin Cities office of Colliers Turley Martin Tucker, and Jeff Kahan of Chicago-based Colliers Bennett & Kahnweiler, worked together on behalf of Duke in the transaction.

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