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Boston-Based STAG Industrial Makes Twin Cities Buy

JLL Capital Markets closed the $14.55-million sale of a 102,994-square-foot distribution facility at 8175 Jefferson Hwy. in the suburban Minneapolis community of Maple Grove, MN.

Senior managing directors David Berglund and Colin Ryan worked on behalf of the seller, a partnership between PCCP, LLC and Capital Partners. An affiliate of Boston-based STAG Industrial, Inc. purchased the asset.
The single-tenant property is triple-net leased to GAF Materials, LLC, a leading roofing manufacturer in North America with plants strategically located across the U.S. The property includes access to two rail spurs and has approximately six acres of paved outside storage.
“This was a terrific transaction for all parties involved,” Berglund said. “We had an extremely competitive sales process for this asset, and STAG got to the finish line sooner than we expected.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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