Editor’s note: “Just Sold” is a Finance & Commerce feature based on the newest certificates of real estate value filed with the Minnesota Department of Revenue for commercial sales throughout Minnesota and reports of sales across the country involving local parties. Research includes company and broker documents, online real estate listings, F&C archives, Catylist and other research.
A Bethel company’s move to larger quarters has allowed another company to move into the space left behind.
An entity identified as Kooka Properties LLC, of Blaine, has paid $2.3 million to FabFam LLC, of Wyoming, Minnesota, for the former ChandlerIndustries plant at 23530 University Ave. NW in Bethel, 33 miles north of Minneapolis.
The 36,000-square-foot building contains 6,040 square feet of office space and 29,960 square feet of manufacturing space on 4.35 acres. It was developed in 1994 and received extensive updates in 2017. The building includes one dock door, two tall drive-in doors and 14 feet, 10 inches of clear height.
The price works out to $64.38 per square foot.
The buyer declined to comment but said he would be ready to announce his plans within a few weeks.
Chandler Industries is a contract supplier of machining, fabrication and assembly services for the aerospace, defense, industrial, medical and other markets. In 2023 it moved the 140 workers in its Bethel and Minneapolis operations to a new, 100,000-square-foot headquarters and manufacturing plant at 8650 W. 35W Service Drive, in the Blaine 35 business park.
Richard Lee of Premier Commercial Properties LLC in Coon Rapids represented the seller, while Maria Vannelli of Labelle Real Estate Group in Oakdale represented the buyer.
Place: 23530 University Ave. NW, Bethel
Price: $2,317,550; $442,550 down payment; new mortgage; $64.38 per square foot
Buyer: Kooka Properties LLC, Blaine
Seller: FabFam LLC, Wyoming
Date: 4/17/24
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RV dealer site in Shakopee draws $6.1 million
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The
Alterra Property Group , based in Bryn Mawr, Pennsylvania, has paid $6.1 million in cash for the 59,356-square-foot building and 10.13-acre site related to the former Brambilla’s RV Center 550 Valley Park Drive in Shakopee.
The sale comes a year after Jack Brambilla and his family sold the 50-year-old dealership’s operations to St. Cloud-based
PleasureLand RV Center for an undisclosed amount. PleasureLand’s website says it is a family-owned and operated company founded in 1971 that operates dealerships in Minnesota, South Dakota and Wisconsin. It also operates a truck center in St. Cloud and an RV surplus store in Brainerd, along with a NAPA Auto Parts in West Salem, Wisconsin.
Alterra, a development, investment and management company, focuses on residential/mixed-usedevelopment (
APG Living ) andindustrial outdoor storage (
IOS ).
Place: 550 Valley Park Drive, Shakopee
Price: $6.1 million; cash; $102.77 per square foot
Buyer: 550 Valley Partners LLC, Bryn Mar, Pennsylvania has paid $6.1 million
Seller: Brambilla Family LLLP, Eden Prairie
Date: 4/30/24
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