
Stream Realty Assists Northridge Capital with $19.15M Grinnell Water Works Sale
A Charlotte-based real estate investment firm purchased Grinnell Water Works at 1435 W. Morehead St. from Washington, D.C.-based Northridge Capital. It was 70-percent leased at the time of the sale.
Stream Realty Partners Senior Associate Alex Olofson and Jared Londry of PointBlank Ventures represented the seller.
Grinnell Water Works was built in 1930 and offers approximately 52,000 square feet of rentable space. The building features a standout sawtooth roof design with industrial skylights, loft ceilings, and exposed brick.
“We at Northridge Capital have tried to be good stewards of a truly iconic asset in Grinnell Water Works for the past seven years and wish the new owner the best of luck going forward,” said David Etemadi, Managing Director with Northridge Capital. “We would also like to thank Alex, Insite Properties, Jared, and everyone involved for an incredibly smooth transaction during a very difficult time in the market.”
- ◦Sale/Acquisition