Minneapolis, Minnesota

MINNEAPOLIS—(April 21, 2008)—The Minneapolis/St. Paul office of Colliers Turley Martin Tucker (Colliers), a world-wide leader of commercial real estate services, today announced that it has completed two investment sales assignments on behalf of seller Chicago-based First Industrial Realty Trust that totaled more than $19,000,000. The Investment Sales team of Mark Kolsrud, CPM, Matthew Klein, Shawn Moore, and Pia Robertson completed the transactions.

The two sales, to two separate local investment partnerships, included four buildings out of the First Industrial Portfolio, which is one of the largest industrial portfolios in the Twin Cities. The first sale involved two properties located at the Normandale Tech Center at 6403 and 6507 Cecilia Drive in Bloomington, totaling 161,368-square feet. The second sale involved two properties located at 770 and 800 Kasota in Minneapolis, totaling 318,006-square feet. Key tenants in Normandale Tech Center include International Paper, Precision Gaskets, and Aufderworld Corporation. Ritrama Duramark currently occupies the 800 Kasota building, and the largest tenant in the 770 building is Wholesale Produce.

“Though the investment market has changed since mid-2007, the Bloomington buildings, for example, closed within 60 days of listing the project, and all four properties had several interested parties,” said Kolsrud, a senior vice president and principal with Colliers.

The team of Kolsrud, Klein, Moore, and Robertson remain bullish on the market and state that they are still seeing a strong level of activity in the market.

About Colliers Turley Martin Tucker

One of the nation’s largest privately held, full-service commercial real estate firms, Colliers Turley Martin Tucker (CTMT) handles more than $5 billion in annual real estate transactions and manages over 237 million square feet of industrial, office, and retail space. CTMT has approximately 1,300 associates of which 505 are licensed real estate professionals throughout its regional offices in Cincinnati, Columbus, and Dayton, OH: Indianapolis, IN; Kansas City, MO; Minneapolis/St. Paul, MN; Nashville, TN, and St. Louis, MO.

For more information about Colliers Turley Martin Tucker, visit our website at www.ctmt.com.

Contact Information

Jennifer Umberger
jumberger@ctmt.com

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