MINNEAPOLIS - CBRE announces the sale of the Dixon Street Industrial Portfolio located in Des Moines, Iowa to Glen Una Management Company, a private real estate investment firm based in San Francisco, for a total purchase price of $14.675 million. The property consists of 606,008 square feet across three buildings that at the time of sale were 100% leased to 10 tenants.
The seller, Investors Real Estate Trust, was represented by the CBRE Institutional Group in Minneapolis led by Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver and Kyle Gamble with CBRE|Hubbell Commercial in Des Moines. IRET’s business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest
The Minneapolis based team of Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver focuses on the disposition of single-tenant and multi-tenant industrial and office properties. Steven, Tom and Ryan are part of the 85-member CBRE Institutional Group. In 2012, the Capital Markets enterprise of CBRE including the Institutional Group completed over $116.9 billion in combined total global capital activity.
About CBRE
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.