PRESS RELEASE: Medina’s North Star Mattress Building Sells for $799,000

MINNEAPOLIS – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Jim and Lynette Metz have sold the 9,588-square-foot North Star Mattress Building, in Medina, MN, for $799,000.

Mr. and Mrs. Metz were represented by Tim Olsen, Associate Vice President, and Noam Newman, Associate, both of whom are based in Cassidy Turley’s Minneapolis office.

Local entrepreneur Robb Stauber acquired the property at 3795 Pinto Drive and will continue to operate the business from that location. Mr. Stauber is a former National Hockey League goalie and attended the University of Minnesota. Originally from Duluth, MN, in 1988 he won the Hobey Baker Award, an annual honor given to the top hockey player in the NCAA.

“Our team was thrilled to help Jim and Lynette sell the North Star Mattress Building to Robb, who recognized the value in the visibility and retail components and subsequently paid close to asking price,” said Mr. Newman.

Mr. Metz developed the North Star Mattress building in 1995 and has operated the business for 18 years. The building has been on the market for several years, and Cassidy Turley won the listing in April.

With 3,456-square-feet of office/showroom space and 6,132-square-feet of warehouse space, the North Star Mattress building is located in the primary retail and commercial corridor at the southwest corner of Pinto Drive and Highway 55 on Medina’s northwest side.

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets.

TAGS: Investment