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Recent Closings

 

These properties were closed on in the past few months. 

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STNL Medical Office - Maplewood, MN
$2,300,000

Closed in March 2024 this single-tenant medical office  asset was sold to a 1031 exchange buyer.  The Seller had owned the building for over 25 years, and Michael helped guide them to select the right buyer during multiple offersThis building sold at a 7.85% cap rate with a new five-year term for the tenant

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Newport Plaza - Newport, MN
$1,250,000

Closed in November 2023 this multi-tenant mixed-use asset was sold to a local investor during a time of high interest rates and fluctuating office tenancy.  The Seller had owned the building for over 30 years, and Michael helped guide them to select the right buyer for the final disposition of their real estate portfolio.

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Applebee's - Rice Lake, WI
$3,237,000

Closed in Oct 2022 this asset was completed for a loyal client by Michael in record time.  It took just 53 days from list to close to complete the sales process.  The client had strict timelines in relation to their multiple 1031 strategy, and Michael was able to meet those needs.  There were six offers on the property within the first week.

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4th Street Retail - White Bear Lake, MN
$4,050,000

 

Sold in July of 2022, Michael had been working with this owner for three years to determine the best time for a sale.  This property was listed in May of 2022 and had five offers on it in the first two weeks.  At the call for offers date, being in competition with multiple buyers, the eventual owner knew they had to bid high and purchased the property for $125,000 over the list price.  The total time from list to sale was 75 days!  

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Kids & Co. Daycare - Schuamburg, IL


$3,700,000


This NNN property was a 1031 up-leg for a loyal client that had just sold an industrial building with Michael in the fall of 2021.  Michael worked hard to identify and analyze the property for the client to maximize their proceeds and realize a better gain than they had currently been getting, while meeting their goal of less management as they strode into their retirement years.
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Michael has been involved in the Twin Cities Commercial Real Estate arena since 1999.  His management and sales background uniquely qualifies him to provide the highest level of service to his clients that is delivered with integrity and professionalism. He specializes in Retail, Office & Industrial Properties in Minneapolis, St. Paul and surrounding communities.
Michael has closed over $250 million of investment property sales.
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