Skip to main content Skip to footer

Colliers completes sale of industrial portfolio to Nicola Wealth Real Estate Acquisitions


22-building, 1.9 million-square-foot infill portfolio in Minneapolis

Minneapolis, MN (September 22, 2021) - Leading diversified professional services and investment management company Colliers announced today the sale of a portfolio of 22 industrial properties dispersed throughout the Minneapolis market totaling 1,915,637 square feet. Colliers MSP Office and Industrial Investment Services Team of Mark Kolsrud, John McCarthy, Peter Carbonneau, Peter Loehrer, Kyle Delarosby and Lydia Paasch led negotiations with the buyer Nicola Wealth Real Estate Acquisitions LTD on behalf of the seller, a national owner of industrial assets. The seller’s portfolio was comprised of two sub-portfolios, one of high office finish located in the southwest market of Minneapolis and the other of more traditional warehouse and distribution product.

“With the demand for industrial warehouses and distributions at an all time high, sourcing and selecting a buyer was a highly competitive process,” said Kolsrud, senior executive vice president. “Our team and the seller feel very fortunate to have found a reliable and committed buyer in Nicola Wealth. We with them the best of luck on their first investment in the Twin Cities.”





About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at, Twitter @Colliers or LinkedIn.

Media Contact:
Solana Tanabe
Allison+Partners for Colliers Minneapolis
+1 916 799 3193



Related Experts

Mark Kolsrud

Sr. Executive Vice President

Minneapolis - St. Paul

As the Senior Vice President for Colliers’ Investment Services Group in Minneapolis-St. Paul, I lead my team to success through proven processes. My team focus is mainly on industrial, office, medical-office, and single-tenant net lease; both locally and nationally.

My broad real estate capital markets knowledge and expertise reflects my 30-year career experience in the commercial brokerage business. During this time, I have worked with nearly every major owner in the Minneapolis-St. Paul area, either through Investment Sales or Landlord representation.  I have experience in multi-market cycles and have become one of the top brokers in the Minneapolis area, and globally transacting more than $3.5 billion.

Having been in the business since 1984, I know how to best benefit the client. My number one priority when serving a client is their experience, both for the buyer and the seller. This experience is built off of a vision and collaboration. A project is best completed through a thought out plan put into action.

View expert

John McCarthy

Senior Vice President

Minneapolis - St. Paul

As a Senior Vice President for the MSP Investment Services Group, John McCarthy specializes in the sale of single and multi-tenant office and industrial properties with a focus in Office dispositions. With over 30 years of experience in the Commercial Real Estate industry, John has had experience with tenant representation, investment property sales, and management of institutionally owned office buildings completing over 4,000 transactions across over 50 million square feet. John is also widely known as the Opportunity Zone expert throughout the Twin Cities and nationally.

View expert

Peter Carbonneau

Senior Financial Analyst - BROK

Minneapolis - St. Paul

As a Financial Analyst in the Investment Services department at Colliers International | Minneapolis-St. Paul, I provide underwriting, valuation and financial analysis for the Investment Services team. 

Additionally, I provide lease analysis, lease comparisons and building valuations to brokers throughout the Colliers MSP offices.
I am intimately involved in the financial analysis process from start to finish and my understanding of the overall market enables me to effectively analyze a property and provide an accurate valuation estimation and recommendation. 

Prior to joining Colliers MSP, I began my career at NorthMarq Capital LLC directly after graduating with a BA in Finance from the University of Saint Thomas. As a Loan Portfolio Analyst at NorthMarq, I learned the financial intricacies owners and operators face in operating, acquiring, and disposing commercial properties. 

I have been able to translate the skills I learned in my undergraduate coursework as well as my four years at NorthMarq Capital into my new, dynamic role at Colliers MSP.

Outside of the CRE industry I volunteer at my church with a program that supports teens and adults with special needs. Additionally, I have been an assistant coach for the Minnetonka High School Varsity Lacrosse team since 2013. 

View expert

Peter Loehrer


Minneapolis - St. Paul

As a capital markets associate for Colliers' Investment Services Group based out of Minneapolis-St. Paul, Peter Loehrer is focused on the full spectrum of single and multi-tenant office & industrial acquisition, disposition, and equity-raise opportunities for both private and institutional quality clients. The Colliers platform and local team provides the expertise and capacity to work with owners, investors, developers and institutional clients throughout the Midwest. Locally, Peter is partnered with Mark Kolsrud, John McCarthy, Peter Carbonneau, Kyle Delarosby, and Lydia Turkzyn.

Prior to joining Colliers Investment Services Group, Peter Loehrer began his career as a Field Research Analyst on CBRE's Minneapolis-St. Paul Office/Industrial capital markets team, where he provided market analysis and insights, investor outreach, and offering memorandum services, as well as lease and credit analysis for a variety of institutional quality clients. Prior to starting at CBRE, Peter was an intern at The Meritex Company, a Minneapolis-based industrial developer/owner.

    Significant Transactions:

    • Water Tower Place Business Center  //  Industrial  //  113,000 square feet
    • Minneapolis Industrial Infill Portfolio  //  Industrial  //  1,915,637 square feet
    • Boulder Lakes III  //  Industrial  //  116,549 square feet
    • I-35 Industrial Center  //  Industrial  //  413,239 square feet 
    View expert

    Kyle Delarosby


    Minneapolis - St. Paul

    As an Associate for Colliers’ MSP Investment Services Group, Kyle specializes in the sale of single tenant and multi-tenant office investment sales. His role is to support the entire team in underwriting analysis, property marketing and client prospecting. He will particularly focus on further expanding the team’s office investment services enterprise in Minnesota and the greater Midwest.

    View expert

    Lydia Turczyn

    Senior Client Services Specialist

    Minneapolis - St. Paul

    Lydia Paasch joined the Capital Markets-Investment Sales team in 2020 as their Senior Property Marketing Strategist at Colliers International in Minneapolis, MN. Lydia and her team specialize in the sale of single and multi-tenant office and industrial properties. Lydia's primary role is to manage the sales process from prospect to closed sale by acting as main point of contact with brokers, clients, designers, vendors, and research groups to establish and achieve client's goals. 

    Prior to joining Colliers International, Lydia worked at CBRE for 5 years on their Capital Markets-Institutional Properties team. 

    View expert