Enclave, a West Fargo-based investment firm, just grabbed a fully leased, two-building industrial campus in Maple Grove after a CBRE-led marketing and financing push. The 255,501-square-foot portfolio traded this month with acquisition debt from a life-insurance company arranged by CBRE Capital Markets and a headline price in the mid-20-million-dollar range. Brokers say the infill location near Highways 610 and 169, paired with long-term tenants, turned the campus into catnip for institutional buyers.
Deal snapshot
According to Connect CRE, CBRE arranged both the sale and acquisition financing for the 255,501-square-foot portfolio and reported that Enclave purchased the assets from Artis REIT for $25.5 million. CBRE brokers Judd Welliver, Bentley Smith, Zach Graham, Ryan Bain, Michael Caprile, and Joe Horrigan represented the seller in the deal. The two buildings at 9200 Forestview Lane N. and 9155 Cottonwood Lane were marketed as 100 percent leased and sit just southwest of the Highway 610 and 169 interchange in Maple Grove's Northwest industrial submarket.
Financing
CBRE's announcement notes that its Capital Markets debt and structured finance team in Minneapolis, Joel Torborg, Mike Vannelli, and Billy Mork, secured a fixed-rate, interest-only $15 million loan on behalf of the buyer. Per CBRE, the loan was placed with a life-insurance company and provided the leverage and interest-only terms that matched Enclave's acquisition strategy. Brokers on the assignment said the financing was a key ingredient in getting the deal across the finish line in the current capital markets environment.
Property details and public filings
Local reporting and public filings show the Maple Grove Industrial Center includes a 174,901-square-foot building at 9200 Forestview Lane N. and an 80,600-square-foot building at 9155 Cottonwood Lane N., for a combined 255,501 square feet. Finance & Commerce reports that the larger building is leased to Malark Logistics and the smaller to Avonix Imaging, and notes that the county certificate lists a recorded sale price of about $24.52 million in mid-December. Trade reporting, such as Connect CR,E cited a slightly higher headline figure of roughly $25.5 million, a gap that can reflect rounding, assumed debt, or the timing of public filings.
Brokers' take
Bentley Smith, one of the CBRE brokers on the assignment, told clients the asset drew "strong investor interest due to its infill location and the stable, durable cash flow generated by tenants on long-term leases," adding that the buyer was acquiring the property at "a significant discount to replacement cost." In CBRE's release, Billy Mork said the financing structure delivered "the best combination of leverage, interest only, and interest rate" for the buyer, according to CBRE.
Why it matters
The sale highlights the ongoing appetite for well-located industrial product in the Twin Cities when strong in-place leases and logistics access line up. Enclave, which has been expanding its regional footprint, told Finance & Commerce that the acquisition bolsters the firm's Twin Cities holdings and provides stable cash flow heading into 2026. For owners and developers, the pairing of multitenant cash flow with life-company financing remains one of the clearer paths to liquidity in today's selective investment market.
