Summerhill Represents Buyer in Blaine Industrial Building Purchase
We are pleased to announce the successful sale transaction of 10350 Jamestown Street NE in Blaine, Minnesota for $1,250,000 or $146.50 per square foot. A property of this size was in great demand with multiple offers pending. The Buyer paid over asking price and closed on the property April 19, 2022. The property is a single tenant owner/user facility. Joe Smith of Summerhill Commercial Real Estate, LLC represented the buyer, Factum, LLC and Hayden Hulsey of Remax Results Commercial represented the Seller, Verity, LLC. The Buyer will utilize the property for the operation of their business.
The property is an 8,532 square foot two story property zoned I-1, light industrial. The building was built in 2001 and is in excellent condition. There are two levels of office totaling 5,552 square feet and a 2,980 square foot 22’ foot clear warehouse with additional mezzanine storage. The office features a spacious reception area, conference room, resource room, kitchenette, 4 restrooms, private offices and open cubicle area. The warehouse is 100% conditioned space, with LED lighting, is served by a grade level drive in door with floor drain and a truck height dock. A second dock can be added. The lot is 1.24 acres which allows for a 5,000 square foot future expansion of the existing building with an additional electrical service already in place. There are 23 existing parking spaces with the ability to add twenty-four spaces to accommodate the potential expansion.
The property has a tenant in place until September and the buyer will begin to occupy the building upon the tenant vacating the property.