Press Releases
Marcus & Millichap Arranges $7.1M Sale and Financing of Industrial Property in Albert Lea, Minnesota
August 18, 2026
ALBERT LEA, Minn., Aug. 18, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a single-tenant industrial property occupied by Green Bay Packaging, in Albert Lea, Minnesota. The property sold for $7.1 million. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $4,798,000 in acquisition financing.
“Prior to going to market, we had the opportunity to assist the owners in structuring both the selling entity and the lease itself, paving the way for the value we achieved at closing,” said Don Schmidt, director investments. “The great fundamentals of the property ruled the day, even in a tertiary market like Albert Lea. Industrial assets with a strong tenant, power, loading, clear height and freeway access never go out of style.”
Schmidt and Paul Rider, investment and sale-leaseback specialists in Marcus & Millichap’s Milwaukee office, in association with Jon Ruzicka, Marcus & Millichap’s Minnesota broker of record, had the exclusive listing to market the property on behalf of the seller, a Minnesota-based partnership, and procured the buyer, St. Paul Properties.
Michael Hughes, managing director in Marcus & Millichap’s Milwaukee office, secured a 5-year loan with a national bank on behalf of the buyer. The loan is non-recourse with a 5.3% interest rate and 25-year amortization period.
The 127,869-square-foot facility is located at 1851 Margaretha Ave. at the intersection of Interstates 35 and 90. Built in 1952, the asset is situated on 10.5 acres, offering potential for future tenant expansion, and has more than seven years remaining on its initial lease term, with extension options through 2041. Interstate Packaging will continue to operate as a division of Green Bay Packaging.
“Prior to going to market, we had the opportunity to assist the owners in structuring both the selling entity and the lease itself, paving the way for the value we achieved at closing,” said Don Schmidt, director investments. “The great fundamentals of the property ruled the day, even in a tertiary market like Albert Lea. Industrial assets with a strong tenant, power, loading, clear height and freeway access never go out of style.”
Schmidt and Paul Rider, investment and sale-leaseback specialists in Marcus & Millichap’s Milwaukee office, in association with Jon Ruzicka, Marcus & Millichap’s Minnesota broker of record, had the exclusive listing to market the property on behalf of the seller, a Minnesota-based partnership, and procured the buyer, St. Paul Properties.
Michael Hughes, managing director in Marcus & Millichap’s Milwaukee office, secured a 5-year loan with a national bank on behalf of the buyer. The loan is non-recourse with a 5.3% interest rate and 25-year amortization period.
The 127,869-square-foot facility is located at 1851 Margaretha Ave. at the intersection of Interstates 35 and 90. Built in 1952, the asset is situated on 10.5 acres, offering potential for future tenant expansion, and has more than seven years remaining on its initial lease term, with extension options through 2041. Interstate Packaging will continue to operate as a division of Green Bay Packaging.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
