OWATONNA -- A billionaire Nevada real estate developer recently paid $26.2 million for an Owatonna distribution center.
Don Roger Norman, under the corporate name of Norman Oklahoma LLC, bought a 265,000-square-foot warehouse complex at 370 Festal Place NW from California-based SFG Owatonna LLC on Nov. 2. Norman made a downpayment of $11.5 million at the closing of the sale.
Minnesota developer Opus Group , which was involved in the development of The Maven apartment complex and the Shoppes on Maine retail area in Rochester, built the warehouse complex in 2020. It was completed in March 2021.
Bosch Automotive Service Solutions leases the center, which stands on an 18-acre parcel of land. Bosch uses the facility as a distribution hub for its automotive repair and maintenance equipment.
The complex features 26 dock doors and 12 semi-trailer parking stalls plus 7,600 square feet of office space.
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Norman is best known as the developer of the Tahoe Reno Industrial Center in Reno, Nevada. Management of the center, which houses high-profile tenants Tesla and Google, describe it as the “largest industrial park in the world.”
