Colliers is marketing a 225,000-square-foot industrial complex in Cannon Falls for $8.55 million, while MRG Realty Partners is offering a three-property, 39-unit multifamily portfolio in the northern Twin Cities suburbs for $5.1 million. The listings offer investment and owner-user opportunities across southeastern Minnesota’s industrial market and the metro’s suburban rental housing sector.
The Blueprint
- Colliers lists a 225,000-square-foot Cannon Falls industrial complex for $8.55 million.
- Nearly 150,000 square feet of the industrial property is available for immediate occupancy.
- MRG Realty Partners is marketing three multifamily properties in Mounds View, Spring Lake Park and Columbia Heights.
- The 39-unit northern suburbs portfolio is priced at $5.1 million, with individual property sales also available.
It’s an On the Market twofer this week. First, we’ll take a quick road trip into southeast Minnesota’s hill country to visit a sprawling, three-unit industrial complex near Cannon Falls. Then it’s back up to the northern Twin Cities suburbs and a three-property, well-tended multifamily portfolio ready for its next phase of life.
Cannon Falls industrial
324 Washington St. W. is among the two largest industrial sites in Cannon Falls, rivaled only by the Henkel complex across the street. In fact, it’s “one of Southeast Minnesota’s premier manufacturing and distribution opportunities,” according to a listing team led by Colliers Senior Vice President Casey O’Malley.
That’s not just marketing bluster. The 225,000-square-foot complex features three separate units, two of which are also available for lease. All told, nearly 150,000 square feet is available for immediate occupancy, setting up a prime opportunity for an owner-user just minutes from Highway 52, the main artery connecting Rochester and St. Paul. The interior, which has clear heights ranging from 14 to 24 feet, can be further subdivided to accommodate users with more modest space needs, O’Malley says.
Built in 1966 and expanded six times between then and the late 1980s, the facility boasts redundant (and very heavy) power service with 277/480-volt lines rated to 1,200, 1,600 and 3,000 amps — suitable for energy-intensive manufacturing and assembly operations. Loading access comes via 11 dock-height doors and five drive-in doors. And while much of the nearly 15-acre site is roofed-in or allocated to employee and truck parking, there’s about 4.8 acres of dedicated outdoor storage space as well.
Address: 324 Washington St. W., Cannon Falls
Type: Industrial (warehouse/distribution/manufacturing)
Square Footage: 225,000 square feet
Asking Price: $8.55 million
Seller: RCP Vintage 2, LLC (Burnsville)
Listing Broker: Casey O’Malley, Aaron Whitmore, Ethan Haglund & Trevor Brandvold, Colliers
North suburban multifamily portfolio
Back in the Twin Cities metro, MRG Realty Partners is marketing a three-property multifamily portfolio in Ramsey and inner Anoka counties.
The buildings — addressed in Mounds View, Spring Lake Park and Columbia Heights — are also available for piecemeal sales, but the portfolio pricing is attractive: from $5,700 to $11,100 below comparable sales on a per-unit basis, MRG associates David Dirkers, Nate Schammel and Zach Burnside say.
Under current ownership, each property has seen substantial upgrades. For example, the 17-unit Mounds View property, known as Brentwood Terrace, got new mansard shingles this year, a common-area rehab in 2024 and new water service lines sometime before then.
Pleasant View, the Spring Lake Park property, got new mansard shingles and windows this year, new electrical breakers and building water softener last year, a new water main in 2024 and a new flat roof in 2022.
University Apartments, in Columbia Heights, has a newish water heater, PVC drains and electrical service in its garage stalls. But there’s “a clear interior value-add play” in replacing the original cabinets and bathrooms in the units themselves, Dirkers, Schammel and Burnside say.
Address: 5284 Greenfield Ave., Mounds View; 8061 Pleasant View Drive NE, Spring Lake Park; 4621 University Ave. NE, Columbia Heights
Type: Multifamily
Square Footage/Unit Count: 39 units
Asking Price: $5.1 million
Seller: Dumore Investments, LLC (Cambridge)
Listing Broker: David Dirkers, Nate Schammel & Zach Burnside, MRG Realty Partners