SR Realty Trust Acquires General Pump Building in Mendota Heights
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SR Realty Trust, Inc. is pleased to announce today’s acquisition of a 100% leased single-tenant office warehouse property located at 1174 Northland Drive in Mendota Heights, MN. The 52,360-square foot building is home to General Pump, a world leader in plunger pump development since 1982. The highly functional facility was built on over three acres of land in 1994 and features 24-foot clear height, three dock doors, and two drive-ins.
SR Realty Trust partnered on the acquisition with five 1031 exchange buyers to purchase the property for $4.1 million.
Evan Richardson, Vice President – Capital Markets, stated, “The General Pump acquisition is another example of SR Realty Trust’s ability to provide simple 1031 solutions for exchange buyers across the Upper Midwest.”