Prime Industrial Warehouse Space for Sale Near Twin Cities
NORTHBROOK, Ill. — Hilco Global's real estate group has announced an exciting opportunity for buyers interested in a strategically located industrial warehouse. This facility is an appealing asset placed right at the heart of vibrant industrial and commercial districts, broadening your business opportunities.
This industrial warehouse, once utilized as a vertical grow operation, encompasses approximately 78,857 square feet. Built in 1982 and successfully renovated in 2022, this facility flaunts some remarkable features. The property boasts 20,000 square feet of dedicated refrigeration space, a height clearance of 22 feet, and specialized vertical grow racking and equipment available for inclusion in the sale. Additionally, it provides two dock-high doors and two drive-in options, with the potential to expand with nine more doors if needed, making it exceptionally versatile for various industrial applications.
Positioned for excellent accessibility, the site provides convenient routes to key locations, including downtown St. Paul, downtown Minneapolis, I-35, and the Minneapolis–St. Paul International Airport. Being encircled by a lively mix of residential, industrial, and retail spaces enhances its appeal. The flexible T3 zoning facilitates a diverse range of uses, making this facility perfect for both owner-users and developers who are looking for strategic industrial solutions.
The vitality plaguing the Minneapolis-St. Paul industrial market showcases the attractiveness of this opportunity. Current data indicates that the overall vacancy rates remain impressively low at around 5.0%. Moreover, asking rents are seeing consistent growth, marked by a progressive 5% increase year-over-year. Supply is being well-managed given that most new projects tend to be built-to-suit or tenant-backed, while speculative developments remain modest, confirming the market's booming appeal for industrial tenants and investors alike.
Chet Evans, the vice president with Hilco Global, voiced the sentiment surrounding this sale, stating, "This sale presents a tremendous opportunity for industrial users and investors to obtain substantial and highly sought-after warehouse-type square footage in a very attractive St. Paul marketplace. The facility is well-maintained and the ability to utilize the refrigerated space component makes for enhanced optimization and flexible utilization."
The sale process will be held under specific Terms of Sale which can be reviewed and downloaded from Hilco Global's official platform. On-site inspections are scheduled for specific dates by appointment, ensuring that interested parties can evaluate this prime property optimally. This sale is conducted in cooperation with Aaron Goldstein - Gold Group Realty.
As for interested bidders, it is essential to assess the terms of sale for necessary participation requirements. For deeper insights regarding the sale process, possible terms, and access to related documentation, details can be found on Hilco's platform, or direct inquiries can be made to the representatives at Hilco Global.
About Hilco Global
Hilco Global operates as a subsidiary of ORIX Corporation USA. It is a comprehensive financial services provider that extends integrated professional services and capital solutions tailored to help clients achieve maximal value. Operating across various sectors such as retail, commercial, industrial, and real estate, Hilco Global focuses on delivering custom strategies aimed at bolstering enterprise value, especially for businesses facing distinct challenges or transformations. With a solid presence globally, Hilco Global is headquartered in Northbrook, Illinois, and employs over 810 professionals worldwide.
Frequently Asked Questions
What is the size of the industrial warehouse for sale?
The warehouse occupies approximately 78,857 square feet and includes various amenities.
What were the original uses of this warehouse?
This facility was previously used for vertical growing operations.
What special features does the warehouse have?
Notable features include 20,000 square feet of refrigeration space and two dock-high doors.
When can interested buyers schedule on-site inspections?
On-site inspections are available by appointment on designated dates.
How can I learn more about Hilco Global?
Visit Hilco Global's website or contact their representatives for detailed information.
