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Cushman & Wakefield is pleased to present for sale the FreightYard Townhomes & Flats, located in the historic North Loop Neighborhood of Minneapolis. FreightYard offers 96 units with a brick and timber design and walkable access to the light rail, five Fortune 500 headquarters, nightlife, sports venues, and an impressive array of award-winning restaurants.

The North Loop is the metro’s highest profile urban neighborhood and its multifamily properties consistently perform at 98% occupancy or better. FreightYard presents investors the rare opportunity to acquire an irreplaceable North Loop asset with historic charm and luxury amenities.

FreightYard Townhomes and Flats features 40 townhouse style units and 56 flats. All units offer stacked washers/dryers, individual HVAC, exposed brick/timber, and high ceilings. The property is offered free and clear of existing financing and tours begin the week of June 4th. Please contact Lance Steiger directly to set up a tour, which will be scheduled by appointment only.
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FreightYard Townhomes & Flats
96 Units
50 North 4th Avenue
Minneapolis, MN  55401
Closed: 9/6/2019
Cushman & Wakefield is pleased to present for sale Nicollet Apartments, a 29-unit value-add opportunity in the vibrant neighborhood of Kingfield in Southwest Minneapolis.

The property is located just off I-35W on the bustling street of Nicollet Avenue. Nicollet Apartments’ prime location gives residents easy access to everything. The property is located minutes from Downtown, Uptown, Lake Harriet, Lake Calhoun, Midtown, and Lake Nokomis. Located in the thriving Kingfield neighborhood, the property is steps from locally acclaimed restaurants including Grand Café, Victor’s 1959 Café, Blackbird Café, Patisserie 46, Revival, Tap Society, and the Kingfield Farmers Market.

Nicollet Apartments is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly three-bedrooms with large open floor plans and vinyl plank flooring in select units. The average in-place rent is currently 20% below comparable properties in the sub-market, allowing opportunistic investors the ability to capture their desired returns through implementing a “light” in-unit and common area renovation plan.

Nicollet Apartments is offered free and clear of existing financing and tours will begin the week of April 29th. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.
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Nicollet Apartments
29 Units
4429 Nicollet Ave S
Minneapolis, MN  55419
Type: Conventional
Closed: 8/2/2019
Cushman & Wakefield is pleased to present for sale the Richfield Apartment Portfolio, a 3 Building, 40-unit value-add opportunity in the vibrant 494 Corridor of western Richfield, MN. Long-term ownership has maintained the buildings with care and now offers investors the opportunity to acquire the portfolio or individual assets.

The properties are located near the Best Buy Headquarters with the addresses 7421 Penn Ave S, 7412 Oliver Ave S, and 7428 Lyndale Ave S and contain 11, 11, and 18 units respectively. The apartments’ prime location gives residents easy access to public transit, interstate 494, Southtown Shopping Center, Target, Hobby Lobby, and many dining options.

Ideally located in Richfield’s 494 corridor, just off Interstate 35W, the Richfield Apartment Portfolio is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly one-bedrooms with large floor plans. The average in-place rent is currently 5-12% below comparable properties in the sub-market, and renovated units nearby are achieving 20% rent premiums. This allows opportunistic investors the ability to capture their desired returns through implementing a “light” in-unit and common area renovation plan.

The Richfield Apartment Portfolio is offered free and clear of existing financing and tours will begin the week of May 1st. Please contact Lance Steiger directly to set up a tour, which will be scheduled by appointment only.
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Richfield Portfolio (2 properties, 40 units)
Lyndale
18 Units
7428 Lyndale Ave S
Richfield, MN  55423
Closed: 7/10/2019
Cushman & Wakefield is pleased to present for sale the Richfield Apartment Portfolio, a 3 Building, 40-unit value-add opportunity in the vibrant 494 Corridor of western Richfield, MN. Long-term ownership has maintained the buildings with care and now offers investors the opportunity to acquire the portfolio or individual assets.

The properties are located near the Best Buy Headquarters with the addresses 7421 Penn Ave S, 7412 Oliver Ave S, and 7428 Lyndale Ave S and contain 11, 11, and 18 units respectively. The apartments’ prime location gives residents easy access to public transit, interstate 494, Southtown Shopping Center, Target, Hobby Lobby, and many dining options.

Ideally located in Richfield’s 494 corridor, just off Interstate 35W, the Richfield Apartment Portfolio is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly one-bedrooms with large floor plans. The average in-place rent is currently 5-12% below comparable properties in the sub-market, and renovated units nearby are achieving 20% rent premiums. This allows opportunistic investors the ability to capture their desired returns through implementing a “light” in-unit and common area renovation plan.

The Richfield Apartment Portfolio is offered free and clear of existing financing and tours will begin the week of May 1st. Please contact Lance Steiger directly to set up a tour, which will be scheduled by appointment only.
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Richfield Portfolio (2 properties, 40 units)
Penn & Oliver
22 Units
7421 Penn Ave S & 7412 Oliver Ave S
Richfield, MN  55423
Closed: 7/10/2019

Kenwood Village, located in the Duluth Heights/Kenwood neighborhood of Duluth, MN, is a Class A apartment building with 14,000 square feet of first floor retail. The property received its certificate of occupancy in February 2017 and leased up with a high degree of interest from university employees, graduate students and people who recently sold their nearby homes in the Kenwood neighborhood. The strong performance of Kenwood Village can be attributed to its close proximity to the University of Minnesota - Duluth and the College of St Scholastica, superior amenities, access to public transit, nearby shopping and spectacular views.

The retail portion offers long-term leases by Amazon Proof retailers. Three of the four current tenants have signed 10-year leases including Caribou Coffee/Einstein Bagels, Crooked Pint, and Duluth Teachers Credit Union, making up 73% of the retail space. Runa Yoga and Experimac complete the list of current tenants and there is value-add potential in leasing up the remaining 1,082 square feet of vacant space. Other key retailers in this area include SuperOne Foods, Papa Murphys, Arby’s, UPS, Cost Cutters, Erbert’s & Gerbert’s and Walgreens.

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Kenwood Village
83 Units
1515 Kenwood Avenue
Duluth, MN  55811
Type: Conventional
Closed: 12/14/2018

Cushman & Wakefield is pleased to present for sale, The Central, a 49-unit “Micro” Multifamily new construction located in a vibrant South Minneapolis neighborhood.

Completed in 2018 and 90% pre-leased upon opening June 1st, The Central was built with state-of-the-art construction while utilizing the highest efficiency standards in the market. The property offers stylish modern layouts with quartz countertops, high-end cabinets, premium wood flooring, stainless-steel appliances and Wi-Fi connected remote access thermostats in all units. The best-in-class amenities at the property are unrivaled to the competition and offer residents a community room with garage door opening to rooftop deck, fitness center, patio with outdoor grill, covered heated parking, heated indoor bike racks/storage, secure package delivery and free Wi-Fi throughout the building.

Centrally located in the heart of South Minneapolis, just off of Interstate 35W at the corner of 2nd Avenue South and East 35th Street, The Central’s prime position gives residents easy access to everything. The property is located minutes from Downtown Minneapolis, Uptown, Lyn-Lake, Eat Street, Lake Harriet, Lake Calhoun, Powderhorn Park, Midtown and Lake Nokomis. The Central is also steps from the thriving “Kingfield” neighborhood with locally acclaimed restaurants including Grand Café, Victor’s 1959 Café, Blackbird Café, Nighthawks Diner & Bar, Hola Arepa, Five Watt Coffee, Kyatchi, Pat’s Tap, Rincon 38 and Butter Bakery Café.

The Central is a unique opportunity to acquire a new construction, best-in-class “Micro” Multifamily asset in a desirable community with limited to no competition of similar properties in this price point.

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The Central
49 Units
3503 2nd Ave South
Minneapolis, MN  55408
Type: Conventional
Closed: 8/10/2018
    Tours Starting September 12th:
    • Tuesdays 10:00am - 3:00pm
    • Wednesdays 10:00am - 3:00pm
    • Thursdays 10:00am - 3:00pm

    Riverwalk Townhomes and Flats, located in the historic North Loop Neighborhood of Minneapolis, offers brick and timber design with walkable access to light rail, five Fortune 500 headquarters, nightlife, sports venues and an impressive array of award-winning restaurants. The North Loop is the metro’s highest profile urban neighborhood and its multifamily properties consistently perform at 98% occupancy or better. This Riverwalk offering presents investors the rare opportunity to acquire an irreplaceable North Loop asset with tremendous upside potential through in-unit renovations.

    The asset features 40 townhouse style units and 56 flats. All units offer stacked washers/dryers, individual HVAC, exposed brick/timber and high ceilings. The property is offered free and clear of existing financing and bids will be accepted on Wednesday October 4th. Tours will be scheduled Tuesday, Wednesday and Thursday between the hours of 10:00am and 3:00pm, beginning Tuesday, September 12th.

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Riverwalk Townhomes & Flats
96 Units
50 N 4th Ave
Minneapolis, MN  55401
Type: Conventional
Closed: 12/15/2017
    Bustling, Urban, Infill LOCATION
    • Winner of "Best Art District" in America - (USA Today 2015)
    • #3 City in America for Beers Lovers - (Travel & Leisure 2013)
    RARE OPPORTUNITY to purchase modern multifamily in NE Minneapolis
    • Opportunity to purchase a Class A property below replacement cost
    • Only two market rate apartment buildings built since 1990 (rents at $2.00 psf)
    • Northeast Minneapolis is the “new Uptown” but with far fewer apartment buildings
    Incredibly Large FLOORPLANS
    • 1101 on Main has an average unit size that is 40% larger than the competition
    • Demand for larger units is increasing as millennials get married and start families
    • Nearly all units have a minimum of 1.5 bathrooms and a dedicated laundry room
    Major Upside in RENTAL INCOME
    • Current lease rates are below market while including underground parking and all utilities except electric.
    Strong demand FUNDAMENTALS
    • Proximity to Downtown Minneapolis (160,000 jobs) and the University of Minnesota (22,000 jobs)
    • Endless neighborhood amenities
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1101 on Main
52 Units
1101 Main St NE
Minneapolis, MN  55413
Type: Fractured
Closed: 4/1/2016