Quantum Real Estate Advisors, Inc. Brokers Sale of a Single-Tenant Office Building in Prior Lake, MN

 

Chicago, IL (June 2nd, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant veterinary building in Prior Lake, MN. The 7,910 SF building is occupied by Destination Pet, a national provider of veterinary service with over 80 locations. The absolute net lease had over 18 years remaining on its current term at the time of sale. The property proved to be an extremely desirable asset, selling within 2% of the initial asking price. The Seller, Core Acquisitions is a Chicago-based acquisition development company with assets and developments across the United States. The Buyer is a local investor out of Minnesota. Chad Firsel, President of Quantum Real Estate Advisors, Inc., represented the Seller of this transaction.

Mr. Firsel had the following comments regarding the transaction, “This is the second Destination Pet deal we have sold in the past two weeks. The Vet space continues to draw very high demand from investors all over the country.” Mr. Firsel continued, “Buyers are continuing to show their preference for acquiring property with the combination of large guarantees and long lease terms.” Quatum Real Estate Advisors, Inc. has now sold a Destination Pet deal in the Southeast and in the Midwest over the past two weeks, showing our coast to coast coverage.

Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.