Onward Investors LLC, a Minneapolis-based investment and development firm, sold the four-story Wedgwood Commerce Centre I building at 6900 Wedgwood Rd. N in Maple Grove, MN to Redline Property Partners for $8.42 million, or approximately $99 per square foot.
The 85,404-square-foot office building was delivered in 1988. Major tenants include Henningson & Snoxell, Partner RE America Insurance Company and McKinstry Communications.
After Onward purchased the property in February 2015, the company made significant upgrades on the building, including a renovated lobby, offices and bike storage.
Avery Ticer with Cushman & Wakefield Minneapolis – St. Paul represented the seller in the latest sale. The buyer handled the deal in-house.
Please see CoStar COMPS #4095835 for more information on this transaction.