Bohn is a developer based in Savage who has done a number of projects in the industrial sector of commercial real estate. He is expected to use the facility for music production.
Jam and Lewis, who are among the world's top producers of No. 1 music hits, have moved their production business to Los Angeles. Finding a buyer for the specialized property was no easy task, says Brian Fogelberg, senior associate at the Twin Cities offices of CB Richard Ellis, who represented the owners in the deal.
"The Twin Cities is not like Los Angeles with a deep music industry, and we knew there was a very limited market for such a high-end facility," Fogelberg says. Fogelberg, who works in the firm's corporate services group, says targeted marketing was used to identify qualified buyers. The sales process was difficult in part because it included an extensive inventory of equipment, he adds.
Fogelberg worked with Jim Leary from CBRE's private client group in representing the production studio in the deal.
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