The St. Cloud office portfolio at 340-358 Highway 10 South and 1250 Johnson Road is home to a childcare provider, a privately held engineering firm and a therapy center. (Photo: Catylist)

The Blueprint

A four-building St. Cloud office and specialty portfolio is fully occupied by three tenants, with 66% of the space leased through 2033.
National Sports Village Building 2 in Blaine offers a 16,998-square-foot, multi-tenant retail opportunity near I-35W.
A historic 14-unit multifamily building on Grand Avenue in south Minneapolis features distinctive architecture and off-street parking.

Editor’s note: On the Market is a regular feature from Finance & Commerce that highlights interesting commercial real estate that has recently been put up for sale. Let us know about CRE that’s on the market at newsreleases@finance-commerce.com.

This week’s On the Market has something for everyone. We start with a four-building office and specialty portfolio in St. Cloud, then head down to the north metro for a multi-unit retail opportunity at the burgeoning National Sports Village complex. Our last stop is south Minneapolis, where a historic 14-unit multifamily building awaits the right buyer.

St. Cloud office portfolio

This rare opportunity comprises a portfolio of four small office and specialty buildings in a self-contained office park close to downtown St. Cloud and St. Cloud State University. According to the listing brochure from AJ Prins and Sean Doyle of CBRE, three separate tenants — including a childcare provider backed by the United Way of Central Minnesota, a privately held engineering firm and a therapy center — combine for 100% occupancy, with 66% of the square footage leased through 2033.

The buildings have easy access to the newly reconstructed Highway 10, the primary artery for St. Cloud’s east side and a key conduit for drivers arriving from the Twin Cities metro. They’re separately platted, too, which “diversifies risk and allows for future flexibility to execute a break up and sell strategy or sell to potential users,” Prins and Doyle say.

The property’s new owner stands to benefit from a wave of public and private investment across St. Cloud, including targeted redevelopment projects downtown, a $50 million planned renovation at Apollo High School, a multi-year effort to improve riverfront infrastructure and continued industrial leasing activity.

Address: 340-358 Highway 10 South and 1250 Johnson Road, Saint Cloud

Type: Office/specialty

Square Footage: 32,808 square feet

Asking Price: $5.519 million

Owner: Not listed

Listing Broker: Sean Doyle & AJ Prins, CBRE

National Sports Village Building 2 at 2180 105th Ave. NE in Blaine has multiple tenants, including Scooter’s Coffee, a cigar shop and lounge and a protein-forward restaurant. (Photo: Catylist)

National Sports Village Building 2

Closer to the metro core, Upland Real Estate Group is marketing one of several retail buildings planned or already built around the National Sports Village complex in Blaine. Known as Building 2 and currently owned by the Metropolitan Airports Commission, it’s being offered as a leasehold opportunity that allows 100% depreciation of the building, according to Upland’s listing brochure.

The building itself has multiple tenants, including Scooter’s Coffee, a cigar shop and lounge, a protein-forward restaurant and “a state-of-the-art destination for fitness, sports performance, and recovery” complete with saunas and cold-plunge pools, Upland brokers Deb Vannelli and Keith Sturm say.

The newly developed, 0.71-acre lot combines an efficient pad layout with ample parking and easy access to the rest of the National Sports Village complex and local transportation arteries, including Interstate 35W.

It’s also not far from a nearly 70-acre redevelopment that qualifies as one of the biggest later-stage construction projects underway in Minnesota this year.

Sheila Sellman, Blaine’s community development director, told Finance & Commerce in December that “vertical construction” could begin on several components this year.

Address: 2180 105th Ave. NE, Blaine

Type: Retail

Square Footage: 16,998 square feet

Asking Price: $8 million

Seller: Metropolitan Airports Commission

Listing Broker: Deb Vannelli & Keith Sturm, Upland Real Estate Group

South Minneapolis apartments

Last but not least, Michel Commercial Real Estate has the listing for a handsome multifamily building on Grand Avenue in south Minneapolis, a few blocks off Lake Street and not far from the Eat Street dining district.

Built in 1931, the building has multi-hued brick and stone cladding, an arched entryway and twin ground-to-roof window bays. Its 2.5 floors — including a garden level — hold 14 units in all. And despite its location in one of the state’s most densely populated neighborhoods, the building has “ample off-street parking” — a key selling point for resident commuters.

Address: 2701 Grand Ave. S., Minneapolis

Type: Multifamily

Square Footage/Unit Count: 14 units

Asking Price: Not disclosed

Seller: Patria, LLC (San Diego, CA)

Listing Broker: Michel Commercial Real Estate

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On the Market: St. Cloud, Blaine and Minneapolis properties