MINNEAPOLIS – Transwestern Real Estate Services (TRS) has been retained by Bethany Global University to market and sell its 32-acre campus in Bloomington, Minnesota. Mike Salmen and Erik Coglianese are managing the sale on behalf of the seller.
The property has been owned by Bethany since the 1940s and is being offered for sale due to a strategic restructuring. The university recently shifted from an in-person learning environment to an online platform and will welcome its first full-time online class in the fall of 2024. The campus is a single parcel and can be sold to one buyer or subdivided and sold to numerous buyers.
“The property is ready for its next phase and can accommodate a variety of users, including a potential re-use of the existing campus. It is also ideally situated for redevelopment to horizontal mixed-use residential,” said Salmen, Managing Principal of Transwestern’s Capital Markets and Asset Strategies group. “Our initial outreach to buyers has been met with extraordinary enthusiasm for this once-in-a-generation opportunity.”
The campus sits in the prestigious West Bloomington neighborhood near parks, walking and biking trails, the Minnesota Valley Country Club, and the bluffs of the Minnesota River.
There are 16 buildings on-site, which can be demolished or repurposed and incorporated into a larger redevelopment. This includes those with existing revenue streams, such as an industrial building that is partially leased and two well-leased apartment complexes.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
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