The Terrace Group is pleased to announce the acquisition of North 101 Business Park, located at 14140-14198 Northdale Boulevard in Rogers, Minnesota. Bob Pounds and Amy Senn, formerly of Colliers International, represented the seller in the sale of the building to Rogers Industrial ESP SM, LLC, an entity related to The Terrace Group. The 120,079-square-foot, multi-use building was 78% occupied upon purchase. The purchase was a well-timed opportunity for Terrace to add property in the northwest metro that compliments its current portfolio. The Terrace Group’s Partner Eric Dueholm commented, “With current construction costs, this small-bay product type of this quality would be very difficult to build today, and we don’t expect to see competing product built anytime soon. We like how this property is positioned in the market.”
The property which is situated less than a mile north of Interstate 94 enjoys easy access and excellent visibility from Highway 101, the primary north / south artery through Rogers. It is also in close proximity to many of the area’s restaurants, shops and hotels. “We continue to witness significant growth in the Rogers industrial market, as well as expansion demographically. This growth has, in turn, increased demand for spaces that can accommodate smaller businesses that service the growing community. North 101 Business Park fills this niche perfectly,” noted Todd Geller, Partner with The Terrace Group.
The addition of this property brings The Terrace Group’s portfolio under ownership and management to more than 1,275,000 square feet throughout Minnesota, Wisconsin and North Dakota.