Real Estate Partners sells 1724 Lake Dr. Chanhassen to Jubele Properties
Minneapolis, MN (May 8, 2023) – Forte Real Estate Partners advisors Fred Hedberg, senior vice president, and Nancy Powell, vice president, in conjunction with Axiom Advisory Group, negotiated the sale of 1724 Lake Drive in Chanhassen to Jubele Properties LLC for $3.950 million.
The property includes 10,000 sq. ft. of office space connected to 25,000 sq. ft. of manufacturing space with three dock doors and two drive-in bays along with 12 acres of commercially zoned land. Forte represented Emerson Digital Cold Chain, the seller. Built in 1996 as a manufacturing home for Control Products, the property and the company were sold in 2011 to Emerson. Emerson moved the Control Products business into its other Eden Prairie manufacturing space in 2022.
Jubele Properties LLC, represented by Nick Leviton, Colliers, plans to use the property for an orthodontic manufacturing business.
“We worked with Control Products in 1996 to find this land parcel and build the building, so now we’ve come full circle with the property as it moves into new hands,” said Hedberg. “While it took about a year to find the right buyer, this property was attractive to a number of buyers looking for the combination of office and manufacturing space.” Hedberg also sold other parcels of land in the Chanhassen Business Center, where the property is located, when it was first platted. He and Nancy Powell also recently represented Emerson to sell an office building on the same street.
Created in 2021 when Paramount Real Estate merged with Excelsior Advisory, Forte Real Estate Partners is a team of experienced, passionate, creative commercial real estate experts who advocate for clients, guiding decisions about space that drives their success. Using a more personalized approach, they uncover new ideas and bring value to commercial real estate assets by offering a full-service real estate platform.
Vice President | Real Estate Advisory
Fred Hedberg | SIOR
Sr. Vice President | Real Estate Advisory
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