Matterhorn Venture Partners (MVP) announced the acquisition of a two-building, 57,665-square-foot small-bay industrial portfolio in the Minneapolis/St. Paul MSA, consisting of 5221 Lakeland Avenue N in Crystal, Minn., and 7385–7399 Bush Lake Road in Edina, Minn. Acquired independently from two separate sellers, the buildings mark MVP’s first investment in Minneapolis and serve as the seed deals of the firm’s small-bay aggregation strategy in the market.
The Crystal building, located in the Northwest submarket, totals 27,012 square feet across four suites, while the Edina building, in the Southwest submarket, totals 30,653 square feet across six suites and is fully leased. Both are masonry construction with 16-foot clear heights and dedicated dock and drive-in loading. Sub-50,000-square-foot industrial buildings across the metro carry vacancy under 2 percent, with effectively no new deliveries under way.
MVP intends to lease the available space at Crystal, roll in
