opportunity

A 97,388 SF, Class A suburban office building located in Maple Grove, MN, a northwest suburb of Minneapolis, MN. The asset featured 10-foot ceilings, building signage along Interstate 494, on-site cafeteria and abundant parking. Following the acquisition of the building while vacant, the entire building was leased to St. Jude Medical for an 11-year term, with Abbott Laboratories (NYSE: ABT) guaranteeing the lease. Maple Grove was sold to Syndicated Equities in August 2019, generating a 23.9% IRR and an Equity Multiple of 2.5 to 1.