2929 Long Lake Rd Roseville MN
2929 Long Lake Rd, Roseville, MN

IRET Sells Four Industrial Properties for $19M

MINOT, ND—Investors Real Estate Trust, based here, said it has sold four industrial properties in North Dakota and Minnesota for an undisclosed buyer for $19.5 million.

The properties included the 41,880-sq.-ft. Bodycote Industrial building in Eden Prairie, Minn. ($3.1 million), the 49,620-sq.-ft. Metal Improvement building in New Brighton, Minn. ($2.3 million), the 172,057-sq.-ft. building at 2929 Long Lake Rd. in Roseville, N.D. ($9.3 million) and the 42,244-sq.-ft. building at 1320 45th St. in Fargo, N.D. ($4.7 million).

The trust said in a statement that it is continuing to dispose of selected assets and reallocate sales proceeds to development projects and deleveraging its balance sheet.

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