An affiliate of Boston-based STAG Industrial, Inc., has purchased a 164,701-square-foot, single-tenant distribution and warehouse facility fully leased to Logistics Insight Corp., in the Minneapolis suburb of Shakopee, MN.
The one-building, front-load facility on 11 acres was constructed in 1984 and most recently renovated in 2020. It offers the tenant a clear height ranging from 20 to 21 feet, 19 dock-high doors, one drive-in door, LED lighting, low office finish and ample parking, in addition to approximately 1.5 acres of outside storage capacity.
Shakopee is a growing and prominent southwest Twin Cities community 25 miles from downtown Minneapolis. According to JLL, the area is projected to obtain a 31% population growth between 2010 and 2040 and logged nearly 9% growth between 2010 and 2019.
JLL’s Colin Ryan and David Berglund represented the seller in the transaction.
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