Boone Plaza

Golden Valley, MN

A 124,608 square foot flex industrial property located in the Golden Valley suburb of Minneapolis, MN. Constructed in 1984, the office/warehouse property is functionally designed for a variety of users and is home to a diverse tenant roster.

Year Built

1984

Property Size

124,608 SF

Investment Highlights

1000 BOONE AVENUE NORTH

GOLDEN VALLEY, MN 55427

Boone Plaza is a 124,608 square foot flex industrial property located in Golden Valley, Minnesota (Minneapolis MSA).

Constructed in 1984, the office/warehouse property features private entrances, floor to ceiling glass exterior, both drive-in and dock loading, and 12’ ceiling heights. The asset is functionally designed to accommodate a variety of users and is home to a diverse tenant roster. Boone was acquired 100% occupied by 16 tenants, which reqire a dual combination of warehouse space and office space. Boone Plaza provides stable cashflow with value-add potential through mark to market rental opportunities as leases roll. Midloch purchased
Boone Plaza in a distressed sale for approximately
the Seller’s loan balance at a 9.24% cap rate, which is nearly $3.5 million less than its 2021 sale price.

The property is located in the highly desirable
submarket of Golden Valley, Minnesota with proximity to major arteries of travel which include I-394, Hwy-55, Hwy 169, and Hwy-100. The infill location provides easy access to the #1 Med-Tech corridor in the US, the Fortune-500 heavy central business district, and the Minneapolis St. Paul International Airport. Golden Valley is considered one of the most centrally located submarkets in the Twin Cities, given its equidistant drive time of just 10-12 minutes to either downtown Minneapolis or the Lake Minnetonka lakeside community of Wayzata, where many executives live. Golden Valley is also home to the world headquarters for General Mills, who is also a tenant at Boone, where
they lease space for a test kitchen.

CONTACT

Tim Donovan

414.795.5849
tim@midloch.com

CONTACT

Gabriella Garcia

312.625.7162
gabriella@midloch.com

Find New Value in Real Estate

CHICAGO

MILWAUKEE

MINNEAPOLIS

+1 414 644 0353

DISCLAIMER: This website is for informational and discussion purposes only and is not, and may not be relied on in any manner as, legal, business, financial, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund or other opportunity sponsored by Midloch, LLC, or its affiliates (each, an “Opportunity”) or to participate in any investment strategy and may not be used or relied upon in connection with any offer or sale of securities. A private placement of interests in an Opportunity will only be made pursuant to a definitive confidential private placement memorandum, term sheet or similar offering document (as such may be amended or supplemented from time to time, a “Memorandum”), an Opportunity’s subscription documents, and a Opportunity’s limited liability company agreement or limited partnership agreement, as applicable, as it may be amended and/or restated from time to time, which will be furnished to qualified prospective investors on a confidential basis at their request and should be reviewed in connection with any consideration of an investment in an Opportunity. No assurance can be given that any Opportunity’s investment objectives will be achieved. This website does not contain all of the information and risk factors that would be important to an investor in making an investment decision and is not an offer to sell a security or the solicitation of an offer to buy a security. A discussion of material risks involved in an investment in an Opportunity is included in the Memorandum related to such Opportunity. By accessing this website and reviewing the information provided herein, you understand, acknowledge and agree that none of Midloch, LLC, its affiliates and/or their respective members of management, officers, managers, directors, agents and representatives shall have any liability for any misstatement or omission of information contained herein.

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Find New Value in Real Estate

CHICAGO

MILWAUKEE

MINNEAPOLIS

+1 414 644 0353

DISCLAIMER: This website is for informational and discussion purposes only and is not, and may not be relied on in any manner as, legal, business, financial, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund or other opportunity sponsored by Midloch, LLC, or its affiliates (each, an “Opportunity”) or to participate in any investment strategy and may not be used or relied upon in connection with any offer or sale of securities. A private placement of interests in an Opportunity will only be made pursuant to a definitive confidential private placement memorandum, term sheet or similar offering document (as such may be amended or supplemented from time to time, a “Memorandum”), an Opportunity’s subscription documents, and a Opportunity’s limited liability company agreement or limited partnership agreement, as applicable, as it may be amended and/or restated from time to time, which will be furnished to qualified prospective investors on a confidential basis at their request and should be reviewed in connection with any consideration of an investment in an Opportunity. No assurance can be given that any Opportunity’s investment objectives will be achieved. This website does not contain all of the information and risk factors that would be important to an investor in making an investment decision and is not an offer to sell a security or the solicitation of an offer to buy a security. A discussion of material risks involved in an investment in an Opportunity is included in the Memorandum related to such Opportunity. By accessing this website and reviewing the information provided herein, you understand, acknowledge and agree that none of Midloch, LLC, its affiliates and/or their respective members of management, officers, managers, directors, agents and representatives shall have any liability for any misstatement or omission of information contained herein.

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