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CBERE represented Essjay Investments in the sale of Univetsity Crossing, a medical office and industrial technology property in St. Paul, MN

Infill MOB Fetches $15M in St. Paul

CBRE arranged the sale of University Crossing, an 84,150-square-foot medical office and industrial technology property at 2200 University Ave. W in St. Paul, MN. Essjay Investments sold the property to Capital Partners LLP for $14,800,000. 

The CBRE Minneapolis Institutional Properties team of Judd Welliver, Sonja Dusil, Ryan Watts, Bentley Smith, and Tom Holtz represented Essjay. 

Built in 1990, the fully leased University Crossing is in the Midway area of St. Paul between the University of Minnesota and the St. Paul CBD. The property is 85% comprised of office/tech finishes. 

“The sale of University Crossing is a great example of an asset that checked all the boxes for investors at an infill location featuring sticky, covid resistant tenants,” said Smith. “These factors contributed to set a new high-water mark for price per square foot for industrial tech assets.” 

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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 GlobeSt.com 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).

  • ◦Sale/Acquisition