SOLD: New Ownership for 6110 Blue Circle Drive, Minnetonka, Minn.
(03/2014) Minnetonka, Minn. – Waba Financial, with the assistance of KW Commercial’s Matthew Klein, has acquired the 6110 Blue Circle Drive office building located in Minnetonka, Minn. Financial terms of the transaction were not disclosed.
The 34,339-square-foot office building is situated on 2.57 acres and is partially leased to a variety of office tenants. At purchase time, 22,000 square feet was available for lease.
Waba Financial's Principal Eric Swildens says, "This building is in a great location in the heart of the southwest suburban Minneapolis office market. We will be actively working on finding tenants for the available space and ensuring existing tenant needs are met as well."
"We are pleased to add this multi-tenant office property to our portfolio. The building provides an attractive opportunity for tenants to be in a great office park at reasonable rates. The Opus Office Park is right by Highways 169 and 62," stated Amie Heddle, Waba Financial's chief financial officer.
According to the buyers agent Matthew Klein of Eagan, Minn.-based KW Commercial Midwest, "We are excited to have the opportunity to reposition the building and take advantage of the ever-improving market fundamentals."
The property will be managed by Anderson Property Management, which provides comprehensive real estate management services, specializing in third-party management of commercial property between 5,000 and 100,000 square feet in size. Leasing of the property will be handled by Andrew Manthei and Matt Shapiro of KW Commercial Midwest.
Waba Financial acquires and manages a variety of real estate and related investments, focusing on income-producing opportunities in high-quality locations in the Midwestern United States. It is privately held and operates out of Mountain View, Calif.