Pinnacle Announces Sale of STNL Automotive Property in Minnesota
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a Single Tenant Net Leased automotive property leased to Caliber Collision, the nation’s largest collision repair company. Located at 7710 University Avenue in Fridley Minnesota, the property sold for $2,218,487 at a 6.01% capitalization rate.
Elizabeth Morgan, Senior Advisor, and Cody Stambaugh, Advisor, represented the seller. “The property was part of a portfolio of three Caliber Collision Centers in Minneapolis, MN listed by The Morgan Stambaugh Group. The property went under contract above asking price, with M. Chandler Lisle representing the buyer. There were multiple offers received for the property, with Pinnacle assisting both buyer and seller in the closing of the transaction,” stated The Morgan Stambaugh Group.
M. Chandler Lisle, Associate Advisor stated, “The buyer desired to transition out of residential investments into commercial holdings with a strong net lease providing passive income and minimum landlord responsibilities.”