Nick Gustafson recently sold a 9,920 square feet flex building on Katie Road in Tea, SD. Nick represented the Seller in the transaction. In addition to the building, the property included 2.64 acres of land. The buyer plans on converting the warehouse into a basketball training facility
Bender Commercial Real Estate Services is proud to present our Mid-2017 Office, Retail, Industrial and Investment Reports. After our 20th Market Outlook celebration in February, it is benificial to both our company, as commercial real estate advisors, and to the business community to take a mid-year snapshot of how the first part of 2017 is gearing up. Below are Bender Commercial's mid-year overview of the conditions of the Sioux Falls Office, Retail, Industrial and Investment Markets, or click HERE for the entire report.
The property on 1920 West Burnside Street, owned by John E. Meigs Trust, has been purchased by Gemini Acoustical. Doug Brockhouse and Bradyn Neises represented the Seller and Purchaser. Gemini Acoustical, an acoustical tile company, has been growing their business since their start in 2000. The purchase of the stand alone warehouse building will allow them to continue their growth and success. Geminin Acoustical will start right away on remodeling the office and replacing the roof. We congratulate both parties on a smooth transaction.
The Velocity Spec building in Sioux Empire Development Park VIII built by Interstate Office Products LLC is fully occupied. Batesville Caskets has signed a lease to occupy the remaining 6,000 sq. ft. of the property. Construction is underway for both tenants in the 12,000-sq. ft. building and should be completed in the coming month. Upon completion of the tenant improvements, Interstate Office Products will begin immediately on constructing another 12,000-sq. ft. spec building on the remaining half of the property. This new building with be the fourth building that Interstate Office Products has built in Park VIII.
Bender Commercial is excited to welcome In Vitro Brasil S.A. (IVB®) to the South Dakota Biotechnology Business Community. IVB will be occupying 6,000 sq. ft. of technical lab/warehouse space in Development Foundation Park VIII. IVB is owned by ABS Global Inc., the world's leader in bovine genetics, reproduction services and artificial insemination technology, with operations in more than 70 countries. Based in Brazil, IVB operates in 17 countries, including the United States, Colombia, Mexico, Mozambique, and Russia and focuses on in vitro fertilization (IVF) of bovine embryos. Working together, ABS and IVB helps customers around with world with genetic improvement on both the male and female sides of their herd.
Nick Gustafson sold 600 Kansas City Street in Rapid City, SD for $734,000. Nick represented the buyer and the seller. The building occupant will remain as a long term tenant.