Business & Tech

Burnsville Industrial Complex Sold for $7.3 Million

The building is home to Buddy's Kitchen, Inc. and RT Dygert International.

118,125-square-foot industrial complex in Burnsville was recently snapped up by a St. Louis firm on a serious shopping spree. Nicollet Business Campus VII was just one of five large industrial properties acquired by the company, Altus Properties LLC, which bought the buildings in one massive $28.3 million package.

Altus bought the Burnsville complex for $7.29 million, the CoStar Group reports, about $1.6 million more than the assessed value in 2012, according to Dakota County property records.

The company also bought:

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  • The Bloomington Business Plaza: a 121,669 square foot office building located in Bloomington. Sold for $4.5 million.
  • Brooklyn Park 7401 Boone Avenue North: a 322,751 square foot industrial building located in Brooklyn Park. Sold for $12.8 million.
  • Cedar Lake Business Center: a 50,400 square foot industrial building located in St. Louis Park. Sold for $2.55 million.
  • Pillsbury Business Center: a 42,929 square foot office building located in Bloomington. Sold for $1.16 million.

Altus bought all five from IRET Properties, an organ of Investors Real Estate Trust (NYSE:IRET). The two parties closed on the sale on Sept. 12, 2013. 


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