Property details

Abbott Laboratories Bio-Medical Portfolio

Investment type

Net Lease

Asset Class

Industrial

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2017

Investment Summary

The property consists of four one-story buildings comprising the Minnetonka Abbott Campus: 14901 Deveau Place, 14581 Deveau Place, 14900 Minnetonka Industrial Road and 3700 Williston Road.

The Property features ISO certification 7 or better clean room space for medical device manufacturing and prototype development of catheters associated with cardiovascular and atrial fibrillation. The Property also provides adjacent tech support areas and general office space.

Syndicated structured its acquisitions as a Tenancy-in-Common (TIC) to accommodate investors completing a Section 1031 Exchange.