Larson Capital Crest Ridge, LLC

Key Investment Highlights

• CLOSED 1/29/2021 – 
• Located in the Minneapolis market, Crest Ridge is one of two Class A+ blocks over 100,000 square feet along the I-394 corridor. We closed on this property at the end of January 2021. Construction started in Q2 2021 to convert this once single-occupant facility to a multi-tenant asset with a market-leading amenities package and opportunity for highway signage. Crest Ridge enjoys a $10 – $12 per square foot occupancy cost advantage versus its primary competitor, 10 West End. The I-394 corridor has demonstrated strong office fundamentals in the Twin Cities with average Class A rental rates reaching $21 net at the end of Q2 2020.
• Leases are signed for 95% of the building, with anticipated occupancy to begin July 2022.  
• Strategically located at the intersection of I-394 and Hopkins Crossroads, Crest Ridge enjoys efficient access throughout the metro area via multiple interstate and highway systems. I-394, I-494, Highway 169, Highway 100, Highway 55, and Highway 7 are all in close proximity, enabling tenants at Crest Ridge to draw from multiple labor pools. In addition, Crest Ridge is minutes away from numerous Fortune 500 Companies. These firms are contributing to the recent trend of major firms migrating to single tenant facilities.
• Crest Ridge offers an atypical amenity package including climate controlled and covered parking, fitness center with lockers and showers, and a desirous branding and signage opportunity with 100,000 cars passing the project daily. Crest Ridge is one of a select few buildings in the market with LEED Gold Certification. The efficient 33,000 square foot floor plates provide space for tenants to collaborate while maintaining appropriate social distancing measures. The combination of asset quality, location, large block opportunity, corporate neighbors, and potential corporate campus migration make Crest Ridge Corporate Center a compelling acquisition opportunity.

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Larson Capital Crest Ridge, LLC

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Larson Capital Crest Ridge, LLC
11055 Wayzata Blvd
Minnetonka, MN 55305
United States

Deal Highlights

• Purchase Price $16,190,000

Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.