Welcome to our NEW quarterly newsletter, where we will let you know about what is going on at Hoyt Properties, as well as in the current commercial real estate market.
Hoyt Properties, Inc. recently advised and represented Forum Equities, LLC with its acquisition of a three building portfolio. Together with MLG Capital as its joint venture partner, Forum acquired Cedar Business Center, Victoria Pond Business Center and Science Center Business Center.
The properties are all office/flex buildings located in Bloomington and New Hope. Comprising 195,000 SF, they were 70% occupied when acquired just before year-end. Tenants include ADP, Bard, and Suburban Radiology.
Players in the transaction included Colliers (representing the seller), MidwestOne Bank, Cameron Law Office, and the Hoyt Properties brokerage team of Steve Nelson and Kyle Thompson.
The properties are value-add opportunities for the buyer.