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Chicago & Midwest  + Midwest  + Industrial  | 
Dell Five Business Park Chanhassen MN Minneapolis industrial real estate

Nicola Wealth Snags 22-Property Twin Cities Industrial Package

Colliers finalized the sale of a portfolio of 22 industrial properties dispersed throughout the Minneapolis market  totaling 1,915,637 square feet. The team of Mark Kolsrud, John McCarthy, Peter Carbonneau, Peter Loehrer, Kyle Delarosby and Lydia Paasch led negotiations with the buyer, Nicola Wealth Real Estate Acquisitions LTD, on behalf of the seller, a national owner of industrial assets.  

The seller’s portfolio was comprised of two sub-portfolios, one of high office finish located in the southwest market of Minneapolis and the other of more traditional warehouse and distribution product.  

“With the demand for industrial warehouses and distributions at an all-time high, sourcing and selecting a buyer was a highly competitive process,” said Kolsrud, senior EVP. “Our team and the seller feel very fortunate to have found a reliable and committed buyer in Nicola Wealth. We with them the best of luck on their first investment in the Twin Cities.” 

Pictured: Dell Five Business Park, part of the portfolio acquired by Nicola Wealth.

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Colliers' Kolsrud

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