Services Provided:

Brokerage

Industries:

Office

Location

Burnsville, MN

Size

29,309 SF

Broker:

Steve Shepherd

Project Summary

 

Challenge
This 30,000 RSF Class C office property was formerly occupied by Skyline Displays as their headquarters and had sat vacant for over a decade. It had fallen into serious disrepair and had reverted to the lender, Commerce Bank. Commerce Bank first approached Colliers based on their track record of success at other Burnsville office properties for consulting advice on how to best reposition the asset with improvements. After a year of advising the bank on the property and a construction plan that followed, Colliers was hired to list the building for lease or sale.

Results
Following an aggressive marketing campaign that targeted local businesses and alternative users such as churches and schools, Colliers identified River Valley Church as a leading buyer-prospect. River Valley Church closed on the property following an accelerated due diligence period and just over four months into Colliers listing period at a sale price higher than any other vacant office building had achieved in the greater Burnsville market. The Church will use the facility as an administrative location and broadcast hub.