Posada Nordeast buys 420 37th Ave NE in Minneapolis for $20.67 million

At $20,666,250, the sale was 23% above the warehouse’s $16,750,000 market value, according to the Assessor’s records. The Certificate of Real Estate Value filed with the Minnesota Department of Revenue lists the sale date as October 14, 2026. The warehouse is at 420 37th Ave NE in Minneapolis.

The record lists CPREIF Nordeast Business Center LLC as the seller and Posada Nordeast LLC as the buyer.

Assessor’s records show a build year of 2022 and an 8.25-acre lot. The last sale on record was $17,000,000 in 2023. This sale price was 22% above that amount.

This summary was written by AI from public sales records and checked by automated rules. The figures come from the record and the NetSheet.org rules engine. How we make these.

What were the closing costs in Hennepin County?

By our estimate, the seller's two largest charges, not counting prorations, were $70,265.25 for the state deed tax + Environmental Response Fund (Hennepin/Ramsey) and $37,140.94 for the owner's title insurance policy. Who pays what follows Hennepin County custom.

How much did the seller net?

By our estimate, the seller netted about $20,492,380. That is before any broker commissions and any loan payoff.

How much cash did the buyer bring to closing?

A cash buyer would need about $20,600,677 at closing. That covers the full price and closing costs.

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