crefeed.com | Two Bloomington retail buildings on the market for $8.55M

5/20/2008

Two Bloomington retail buildings on the market for $8.55M

4900 West 78th St.

A two-building retail property in Bloomington, Minn., has been placed on the sales block by Eagan-based 4900 West 78th Street, LLC with an asking price of $8.55 million or $77.23 per square foot.

Stephen Lysen of CB Richard Ellis has been hired to market and sell the property.

The two buildings are located in Bloomington's 494 corridor at 4900 West 78th St. They contain 110,713 square feet on 9.95 acres and are currently 99 percent occupied by three tenants. Built in 1959, the properties are being offered with a 7.2 capitalization rate.

The seller purchased the buildings in May 2004 for $6.2 million, according to Hennepin County tax records.

Lysen is a first vice president with CBRE and is a member of the firm's Minnesota Private Client Group. He has been with the company since 1994 and is the former director of the Minnesota Commercial Association of Realtors.

Address: 4900 West 78th St., Bloomington, Minn.

Size: 110,713 square feet

Built: 1959

Filed Under: Retail

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