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REO Sale | Investment or Redevelopment Opp 435 Ford Rd 203,656 SF 18% Leased Office Building Online Auction Sale Saint Louis Park, MN 55426
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- 435 Metropoint has investment optionality for prospective buyers with multiple potential strategies in the highly desirable & vibrant St. Louis Park.
- Offering superior accessibility in a highly visible suburban location with abundant neighboring amenities nearby.
- Located in the well-performing St. Louis Park office micro-market and a part of the strong, well-diversified Minneapolis economy.
- Retain Herzing & operate as office, convert to housing using creative financing, knock down to build apartments, while leveraging 700+ stall garage.
- Exceptional opportunity for urban infill redevelopment, providing an acquisition at a price substantially below replacement cost.
- City staff have indicated an openness and potentially robust support for 435 Ford Road, to be zoned for transit-oriented development (MU-3).
EXECUTIVE SUMMARY
435 Metropoint is a 10-story office building totaling 203,656 square feet across 4.85 acres (2,100,252 square feet) with significant redevelopment potential, currently 18% leased to Herzing University through September 2028. The existing tenant has signaled some flexibility regarding early termination if desired. Located in St. Louis Park, an affluent first-ring southwestern suburb of Minneapolis, the property is an ideal headquarters location for a user with building signage and branding opportunities that are visible to over 113,800 vehicles per day.
St. Louis Park and the southwest metro are experiencing a wave of new development driven by significant demand from a growing Gen Z and millennial population who desire a location close to Downtown Minneapolis and the surrounding western suburbs. The current land use designation positions the 435 Metropoint for future high-density residential, mixed-use, commercial, and office uses in a location that cannot be replicated, with the potential to utilize historic tax credits and potentially a forthcoming CUB credit. 435 Metropoint allows a potential buyer to benefit from the in-place cash flow while implementing a potential phased development.
Located only 10 minutes from the Minneapolis Central Business District, 435 Metropoint sits prominently at the crossroads of Interstate 394 and Highway 169 and is visible to over 113,800 vehicles per day. This central location is surrounded by several affluent Minneapolis suburban communities and provides superb freeway access, allowing for efficient commute times to crucial labor markets. 435 Metropoint offers a highly desirable alternative to the CBD commute, congestion, and parking costs by providing an easily accessible suburban environment with abundant free parking and convenient access to mass transit.
435 Metropoint is located within Metropoint office park, a 20-acre, four-building, approximately 920,000-square-foot campus providing access to a wide range of amenity offerings, including tenant lounges, conference/training center, fitness facility, dining options, and outdoor tenant areas featuring the Turf Club, a landscaped green space offering a variety of yard games. The park amenities provide tenants everything they need to recruit and retain a talented workforce.
Property tours are available by appointment only. Please contact the listing broker to schedule.
St. Louis Park and the southwest metro are experiencing a wave of new development driven by significant demand from a growing Gen Z and millennial population who desire a location close to Downtown Minneapolis and the surrounding western suburbs. The current land use designation positions the 435 Metropoint for future high-density residential, mixed-use, commercial, and office uses in a location that cannot be replicated, with the potential to utilize historic tax credits and potentially a forthcoming CUB credit. 435 Metropoint allows a potential buyer to benefit from the in-place cash flow while implementing a potential phased development.
Located only 10 minutes from the Minneapolis Central Business District, 435 Metropoint sits prominently at the crossroads of Interstate 394 and Highway 169 and is visible to over 113,800 vehicles per day. This central location is surrounded by several affluent Minneapolis suburban communities and provides superb freeway access, allowing for efficient commute times to crucial labor markets. 435 Metropoint offers a highly desirable alternative to the CBD commute, congestion, and parking costs by providing an easily accessible suburban environment with abundant free parking and convenient access to mass transit.
435 Metropoint is located within Metropoint office park, a 20-acre, four-building, approximately 920,000-square-foot campus providing access to a wide range of amenity offerings, including tenant lounges, conference/training center, fitness facility, dining options, and outdoor tenant areas featuring the Turf Club, a landscaped green space offering a variety of yard games. The park amenities provide tenants everything they need to recruit and retain a talented workforce.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
Suite 205 Matterport Tour
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OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
- Miscellaneous
- Floor Plans
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
203,656 SF
Building Class
B
Year Built/Renovated
1982/2008
Percent Leased
18%
Tenancy
Multiple
Building Height
10 Stories
Typical Floor Size
20,366 SF
Slab To Slab
11’
Building FAR
0.96
Lot Size
4.85 AC
Parcel Number
01-117-22-11-0011
Zoning
O
Parking
697 Spaces (3.42 Spaces per 1,000 SF Leased)
AMENITIES
- Conferencing Facility
- Convenience Store
- Fitness Center
- Property Manager on Site
- Signage
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
7,200
77,062
223,570
2020 Population
7,166
77,570
230,087
2029 Population
7,127
76,104
219,800
2024-2029 Projected Population Growth
-1.0%
-1.2%
-1.7%
Daytime Employees
14,323
82,536
196,429
Total Businesses
1,118
6,474
16,586
Average Household Income
$119,641
$113,503
$117,476
Median Household Income
$94,804
$89,985
$90,213
Total Consumer Spending
$117.5M
$1.2B
$3.4B
Median Age
37.7
39.8
39.9
2024 Households
3,564
35,128
99,481
Percent College Degree or Above
37%
35%
34%
Average Home Value
$426,339
$405,504
$427,245
$ values in USD
SALE ADVISORS
SALE ADVISORS
Harrison Wagenseil, Senior Vice President
Harrison Wagenseil joined CBRE in 2023 and is a Senior Vice President in the Minneapolis Capital Markets Institutional Properties Group specializing in major investment transactions for single-tenant and multi-tenant office and industrial properties.
Harrison is partnered locally with Ryan Watts, and Tom Holtz. As an investment professional, Mr. Wagenseil and the team provide advisory and brokerage services required for complex real estate transactions and investment sales.
Prior to joining the CBRE Institutional Properties team, Harrison led Transwestern’s Minneapolis-St. Paul capital markets and investment sales practice focusing on disposition services primarily on behalf of family offices, trusts, private equity shops, real estate funds and middle-market institutional and private investors. Harrison started his career selling investment properties in the San Francisco Bay Area with The Staubach Company before founding a boutique commercial real estate advisory firm in Minneapolis.
Harrison is partnered locally with Ryan Watts, and Tom Holtz. As an investment professional, Mr. Wagenseil and the team provide advisory and brokerage services required for complex real estate transactions and investment sales.
Prior to joining the CBRE Institutional Properties team, Harrison led Transwestern’s Minneapolis-St. Paul capital markets and investment sales practice focusing on disposition services primarily on behalf of family offices, trusts, private equity shops, real estate funds and middle-market institutional and private investors. Harrison started his career selling investment properties in the San Francisco Bay Area with The Staubach Company before founding a boutique commercial real estate advisory firm in Minneapolis.
James Freytag, Senior Vice President
Jim Freytag specializes in office properties in the suburban Minneapolis marketplace. He has completed hundreds of lease and sale transactions totaling over 7 million square feet. Throughout his career, he has focused on putting the customer first and understanding their needs and objectives to structure creative real estate solutions for them. He is a student of the market to identify trends in the marketplace to assist his clients with making informed real estate decisions. Mr. Freytag is recognized as one of the leaders in the office department and has been involved with over 2 million square feet of new construction and new development. In addition to his expertise in the Minneapolis marketplace, he has assisted clients on a national basis with both space acquisition and disposition through leveraging the CBRE platform. He has held numerous leadership positions with the local commercial real estate industry associations and has served on the board of directors of the local NAIOP Chapter as an executive officer.
Brian Pankratz, Senior Vice President
Brian Pankratz is a Senior Vice President with CBRE and specializes in land sales, site selection, redevelopment and large acreage land assemblage. Current listings include over 2,000 acres with future development potential of over $1 Billion. The Minneapolis Land Services Group is part of a nationwide network of experienced professionals focusing exclusively on land transactions. Our mission is to accelerate the success of our clients through superior market knowledge, industry-leading technology and a global real estate perspective.
Before joining CBRE, Brian worked at Colliers International in Las Vegas, Nevada from 1999-2005, where he was involved in transactions totaling more than $475 Million including over 2,000,000 square feet of industrial space and 3,000 acres of land.
Before joining CBRE, Brian worked at Colliers International in Las Vegas, Nevada from 1999-2005, where he was involved in transactions totaling more than $475 Million including over 2,000,000 square feet of industrial space and 3,000 acres of land.
Brian Wasserman, Senior Vice President
Brian Wasserman joined CBRE in 1996 and, with over 28 years of experience in Institutional real estate leasing, tenant representation and acquisitions/dispositions, Brian has been involved in over 1700 transactions totaling over 12 million square feet, including sale transactions in excess of $1 billion. Additionally, Brian has a tremendous ability to identify and understand the client’s needs and works diligently towards accomplishing their real estate goals. He applies hard work, dedication and knowledge of the market to produce consistently impressive results.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
Taylor Cunningham
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 40750750
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOURS
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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REO Sale | Investment or Redevelopment Opp | 435 Ford Rd
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