Transactions - JULY 29, 2022

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JV sells Abbott Laboratories campus in Minneapolis

by Released

A joint venture between Eagle Ridge Partners and Syndicated Equities has sold Abbott Laboratories Life Science Campus, a four building, 280,289-square-foot life science portfolio in Minneapolis, Minn.

Virtus Real Estate Capital acquired the portfolio for an undisclosed sales price.

Abbott Laboratories Life Science Campus is fully leased to Abbott Laboratories, an A+ investment-grade credit tenant. The portfolio contains Current Good Manufacturing (cGMP) certified clean room, lab and manufacturing space, as well as office and warehouse space. Across the four buildings there are 26 dock doors, seven drive-ins, clear heights of 12 feet to 18 feet, and 640 parking spaces.

The buildings are located on 19.13 acres at 14901 and 14851 DeVeau Place, 14900 Minnetonka Industrial Blvd. and 3700 Williston Road in the Southwest submarket. Abbott Laboratories Life Science Campus has convenient access to the area’s vast transit system, including the Light Rail Transit system,

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