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AGA Medical Buys Corporate Park in Plymouth for HQ

PLYMOUTH, MN-AGA pays a bargain $5.4 million for the 189,000-sf building and 27.5- acre corporate park, which was bought by Qwest for $22 million only a few years ago.

By Jim McCartney | Updated on February 03, 2004

PLYMOUTH, MN-AGA Medical Corp. recently bought a three-story, 189,000-sf building as part of a 27.5-acre corporate park at Highway 169 and Schmidt Lake Road for a new corporate headquarters. The medical technology company paid $5.4 million for a building at 9700 Schmidt Lake Road that just a few years earlier had been bought for $22 million by Qwest, the Denver-based telecommunications company (county appraisers set the value for the property at $14 million).

The deal included telecommunications equipment valued at nearly $1 million, which the company will sell off, says Bob Strachota, a Minneapolis commercial real estate appraiser and consultant who represented AGA. “The price they paid shows just how just how far the real estate market has fallen over the last few years,” Strachota says.

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