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OFFERING MEMORANDUM
2019
WINSORO F F I C E P L A Z A
1935 County Road B2 | Roseville, MN
WIN
SOR
OF
FIC
E P
LA
ZA
THE OFFERING
NEWMARK KNIGHT FRANK IS
PLEASED TO OFFER WINSOR
OFFICE PLAZA FOR SALE.
This 74,782 SF multitenant Class B office building is centrally located in Roseville Minnesota. Roseville is ideally located between both the Minneapolis CBD and the St Paul CBD. Winsor Office Plaza boasts direct access to both I-35W and CR 36 and is within walking distance of the amenity rich trade area of Roseville Center and Rosedale Mall. This building was constructed in 1970 and was recently updated to include new common area finishes, a fitness center, conference facility, and a vended break area. Winsor Office Plaza has a long term historical occupancy above 90% and is approximately 88% occupied.
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
OFFERING SUMMARY
PROPERTY OVERVIEW
Interest Offered Fee simple
Offering Price $7,400,000
Year One NOI $638,950
CAP Rate 8.6%
Building Name Winsor Office Plaza
Address 1935 County Road B2 West
Year Built 1970
Total Rentable SF 74,782 RSF
Average Floorplate 16,420 SF
Stories Four (4) story building plus the lower level
Occupancy Approx. 88%
Parking 244 Stalls
Lot Size 3.49 Acres
PID Ramsey County PID# 092923240017
Features & Amenities Walkable to Rosedale Mall, direct access to County Road 36 and I35-W, on-site conference room, fitness center and vended break area.
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
PROPERTY PHOTOS
MINNEAPOLIS CBD
ROSEDALE CENTER
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
PROPERTY PHOTOS
N
MINNEAPOLISCBDUniversity Ave
Hennepin Ave
Larpenteur Ave
New
Brig
hton
Blv
dROSEDALE
CENTER
W County Rd C
Highway 36
5 miles to Minneapolis CBD
WINSORO F F I C E P L A Z A
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
AERIAL VIEW
AERIAL VIEW
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
N
WINSORO F F I C E P L A Z A
ST. PAULCBD
Hiawatha Ave
35E
35E
694
394
8 miles to St. Paul CBD
MSP INT’L AIRPORT
5 miles to Minneapolis CBD
MINNEAPOLISCBD
PRIOR A
VE N
COUNTY ROAD B2
N
WINSOROFFICE PLAZA
SITE PLAN
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
W I N S O R O F F I C E P L A Z A Newmark Knight Frank | Offering Memorandum
3.48M $73,231Minneapolis-St. Paul
PopulationMinneapolis-St. Paul Median Household
Income
119,200,000Total Inventory
SF
4.6%Labor Force
Five-Year Growth Rate
2.5%Unemployment
Rate
11.2% Vacancy
456,473Quarterly Net
Absorption
SF $25.11 Average
Asking Rent
917,700Under
Construction
SF
Arrows indicate change since Q4 2018
3Q18 vs 4Q18Total Absorption Vacancy
LOCAL AREA MARKET HIGHLIGHTS
Q4 2018 MARKET PLUSE
MINNEAPOLIS-ST. PAUL OFFICE MARKET HIGHLIGHTS
PROJECTED 3Q18 vs 4Q18 PROJECTEDRental Rates
3Q18 vs 4Q18 PROJECTED
WIN
SOR
OF
FIC
E P
LA
ZA
Peter TanisManaging DirectorOffice [email protected]
Brian NetzSenior Managing DirectorIndustrial [email protected]
FOR MORE INFORMATION:
Fifth Street Towers100 South 5th St, Suite 2150 Minneapolis, MN 55402612.430.9950www.ngkf.com
The material contained in this Investment Presentation is confidential, furnished solely for the purpose of considering the acquisition of the subject Property described herein and is not to be used for any other purpose or made available to any other person without the express written consent of NKF. The material is based in part upon information obtained from the Seller and in part upon information obtained by NKF from sources deemed to be reliable. Summaries contained herein of any legal documents are intended to be comprehensive statements of the terms of such documents, but rather only outline of some of the principal provisions contained herein. Prospective purchasers should make their own investigations, projections, and conclusions. It is expected that prospective investors will conduct their own independent due diligence concerning the Property, including such inspections as deemed necessary to determine the condition of the Property and the existence or absence of any potentially hazardous material used in the construction or maintenance of the building or located at the land site. No representations expressed or implied are made as to the foregoing matters by NKF.
