Chaska Land Sale
We are pleased to announce the completion of raw land sale transaction at 4200 Peavey Road in Chaska, Minnesota on August 31, 2022.
Summerhill Commercial Real Estate, LLC represented the Seller Peavey Properties, LLC and the Buyer, SW Peavey Real Estate, LLC, represented themselves in the negotiations.
The transaction was for a 2.73 acre industrial site with frontage on Highway 41 in Chaska, accessible by Peavey Road. The sale price was $300,000 or $2.52 per square foot. The site presented some challenges for any Buyer as there are some soft soils to contend with which will require some excavation and import of new soil for a new building. The dimensions of the site limit the size of the building that can be built on it with an expected future building size of 18,000 to 20,000 square feet. The site is also in a special industrial district that requires any new company utilizing the site to generate a level of new jobs acceptable to the City of Chaska.
The property had been on and off the market many times over the past ten years and has now successfully sold. The site is in a good location just south of the intersection of Highways 5 and 41 near the headquarters of Lifetime Fitness. The area is also home to many small to medium local and regional companies and has good accessibility to highways and freeways with nearby amenities such as US Bank, Holiday Inn Express, Kindercare, Tweet Pediatric Dentistry, and many others while being only minutes from the downtowns of both Chaska and Chanhassen.
In additional to sales brokerage services, Summerhill Commercial Real Estate, LLC also provides Buyer Rep brokerage services, and Landlord Rep and Tenant Rep brokerage service, as well full charge property management services for existing and new clients in the areas of industrial, retail, and office commercial real estate. Call us at 952-473-5650 if you have any questions, or for a free consultation.
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