i3 Investor News
i3 Investors Continues its Expansion in the Minneapolis Market
INDIANAPOLIS, Ind. – 5/16/2024 i3 Investors recently acquired the Nicollet Business Center, a 118,125 SF multi-tenant industrial building in Minneapolis's South/Southwest submarket. Constructed in 1997, the building is 100% leased to three tenants and strategically located near existing i3 Investors’ assets.
“This is a nice win for i3 Investors as we grow our footprint in Minneapolis. Minneapolis provides a great mix of low vacancy rates, barriers to entry, rental rate growth, and solid employment opportunities. This has and will continue to be a targeted growth market for acquisitions for i3 Investors." said Matt Dickerson, Principal of i3 Investors.
Previously held by DRA and Capital Partners MN, Nicollet is 100% leased and is the second acquisition by i3’s Industrial Fund Three LP.
Chip Barnes, Principal of i3 Investors, commented, “Nicollet Business Center not only helps diversify the geographic exposure but provides long-term stabilized cash flow through a diversified rent roll for i3 Industrial Fund Three LP.”
Bentley Smith and Judd Welliver, both of CBRE National Partners, represented the Seller on the transaction. Ken Martin of JLL Capital Markets' Debt team secured the debt partner on behalf of i3 Investors.
For media inquiries, contact
Melissa Cotterill
Executive Vice President
+1 317 319 8790
