By Burl Gilyard
Dolan Media Newswires
MINNEAPOLIS, MN — Opus North Corp. has sold an Oak Creek industrial property for $8.7 million.
Tom Shaver, president and CEO of Opus North, said that the deal closed at the end of June. The deal works out to roughly $62 per square foot.
“It was fully leased. We had always intended, once we got it fully leased, to sell out of it,” Shaver said.
The project was built by Opus North Corp. and completed in May 2005.
Opus North is based in the Chicago area, but today is the surviving development arm of the restructured, Minnetonka-based Opus operation.
The Oakwood Crossings Business Center I is located in Oak Creek. The buyer was CenterPoint Properties, which is based in Oak Brook, Ill. The 139,726-square-foot building is fully occupied by Yaskama Electric America Inc., which expanded its lease in the property last year.
Shaver said that Opus North does not have any other properties currently listed for sale.