Transwesterns Midwest Capital Markets Group Represents Seller in Transaction
August 16, 2022
MINNEAPOLIS – Transwestern Real Estate Services (TRS) announces its Midwest Capital Markets Group brokered the sale of Rush Lake Business Park, a two-building, 79,028-square-foot asset in New Brighton, Minnesota. Harrison Wagenseil and Erik Coglianese represented the seller, Biynah Industrial Properties, in the transaction. Illinois-based Clear Height Properties purchased the park for $8,725,000.
“We launched this offering at the apex of the industrial real estate market,” Wagenseil said. “Rush Lake Business Park is incredibly functional real estate that experienced superb leasing velocity and is poised for continued rent growth. Overall, we are thrilled with the outcome for both buyer and seller and believe this will be an outstanding asset for the Clear Height team.”
Sale highlights for the industrial-tech property include a diversified rent roll; excellent interstate highway visibility and access; new area housing developments; significant med-tech presence in the Northeast submarket; and recent capital improvements of approximately $1 million.
Transwestern’s Midwest Capital Markets Group provides investment sales and financing solutions to investors across the commercial real estate spectrum. The team includes experts who individually specialize in office, industrial, retail, multifamily and senior living assets, including independent living, assisted living, memory care, skilled nursing and continuing care retirement communities.
About Biynah Industrial Partners
Biynah Industrial Partners, LLC (“BIP”) is a Minneapolis-based private equity firm that makes direct investments in industrial real estate located throughout the United States.
BIP’s clientele is comprised of a loyal group of high-net-worth investors, family offices and institutional joint venture partners seeking value-add/core-plus returns in this alternative investment class.
About Clear Height Properties
Clear Height Properties is a real estate investment and management company headquartered in Oak Brook, Illinois. The company’s vision to be the best in creating value for its clients through acquiring and developing properties in the most desirable locations.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic programs for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Media Contact:
Amy Wheaton
612.359.1666
Amy.wheaton@transwestern.com
twmediarelations@transwestern.com
