Minneapolis - CBRE announces the sale of 8761 Brooklyn Boulevard to Orchard Partners on behalf of James Campbell Company for $11.75 Million. The property is a “Class A” 103,964 square foot distribution center built in 2007 that is currently 100% occupied by four tenants.
The seller, Founders Properties, L.L.C., was represented by the CBRE Institutional Group in Minneapolis led by Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver. Founders Properties is a privately held company formed by two highly regarded industry veterans, Best Buy Founder Richard M. Schulze and Opus Founder Gerald Rauenhorst. Founders Properties’ current portfolio includes approximately 100 institutional grade properties located throughout the United States.
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.
Steve Buss, EVP, 952.924.4618
Tom Holtz, EVP, 952.924.4622
Ryan Watts, VP, 952.924.4657
Judd Welliver, VP, 952.924.4818