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Eagle Ridge, BLG Capital Sell Industrial Buildings for $13.5M
Chicago-based BLG Capital Advisors and Minneapolis-based Eagle Ridge Partners have sold a group of industrial buildings in Eden Prairie for a combined total of nearly $13.5 million, reported the Minneapolis / St. Paul Business Journal.
BLG and Eagle Ridge were represented by Judd Welliver and Bentley Smith, both of CBRE, on the deal. The three properties are all part of the six-building Shady Oak Business Center and are located at 10321 W. 70th Street, 10333 W. 70th Street., and 10391 W. 70th Street. They were sold to LLCs tied to Roseville-based Encompass Properties. Together, they span 102,730 square feet and were made available through a 1031 exchange.
Eagle Ridge and BLG purchased the Shady Oak Office Park in 2021. “We’re seeing a lot of demand in the industrial market from buyers looking for high-quality industrial med-tech spaces in prime locations like Shady Oak Office Park,” Kristin Myhre, president of Eagle Ridge Partners, told the outlet.
