BARNES Commercial Opportunities
BARNES International Realty is a leading international real estate firm; it was created more than 20 years ago and is now a consolidated group, headquartered in France / Luxembourg, with 90+ offices spread over 16 countries, and about 900 consultants at the service of our high-net worth clientele. Last year, gross sales amounted to over $6 billion. Over the past decade, and due to its particular high-end positioning, BARNES has developed a multitude of partnerships and considerable expertise in assisting family offices, wealth management firms, and private banks globally. They appreciate the very high standards of our group, its professionalism, worldwide implantation and interconnection between all offices; but mostly we have been successful at building trust with those entities, accompanying them in the management, diversification and growth of their real estate portfolios, while being able to respond to more unique requests from their clients.
Amazon Distribution Warehouse (PA)
Newly redeveloped best-in-class last-mile facility of 149,180 sq ft, renovated in 2020 and 100% leased to Amazon over 12-years. Strategically located to provide access to nearby states of New Jersey and New York with a quick access to major port, intermodals and major cargo airports, making this submarket an attractive option. CAP rate 4.5%. 5Y Leveraged IRR 5.9%.
Asking price: $ 20,000,000
CAP rate: 4.5%
5Y Leveraged IRR 5.9%.
Class A – Downtown Minneapolis, MN
533 S 3rd St, Minneapolis, MN 55415
Millwright of approx. 173,476 sqft., constructed in 2017, is 97% leased to a multi-tenant roll at below market rents. The property is well positioned in the Minneapolis CBD in the Downtown East submarket, the most active submarket in the MSA. There is a limited supply of Class A office in the CBD and Millwright is the only building of its kind in Downtown East. It offers convenient access to all of Minneapolis and is located near some of the city’s top recreational and entertainment destinations, including the new U.S. Bank Stadium for the Vikings professional football team.
Asking price: $53,800,000
CAP rate: 5.7%
Cash yield on equity in year one: 7.0%
NNN Amazon – Santa Barbara, CA
1001 State St, Santa Barbara, CA 93101
This landmark building of approx. 43,000 sqft. (4,000 m²), renovated in 2019, is 100% NNN leased to Amazon Services (9+ years remaining term). Amazon invested $14M in a complete renovation of the property in 2019, following $6M in initial capital improvements by the current ownership. The property has a premier location on a prominent corner in the heart of Downtown Santa Barbara, which recently became a technology hub.
Asking price: $38,400,000
CAP rate: 4.6%
Cash yield on equity in year one: 5.5%
Mixed Use – Upper West Side, NY
57 W 86th St, New York, NY 10024
Located half a block from Central Park West, 57 West 86th Street is a mixed used building comprised of 13 units in total. The 12 residential units (all free market except one) consist of 2 x Studios, 9 x 1-BR and 1 x 2-BR; average rent around $60 / sqft. The retail unit is 100% occupied by long-time tenant J.P. Morgan Chase, with a current lease through July 2024 (at $140 / sqft.). Approx. 30,000 sqft. of additional air rights.
Asking price: $12,800,000
CAP rate: 6.0%
Discover all commercial opportunities