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Blueprint Closes 81,000 square foot Life Science Flex Space in Plymouth, MN
Blueprint MOB team leverages local network and institutional expertise to successfully execute both a new lease and sale of this Life Science Flex facility
Blueprint was hired by a public REIT to market this asset in Minneapolis’ affluent suburb of Plymouth.
This 81,000 square foot Life Science Flex space had an upcoming vacancy with the anchor tenant. During the marketing process, Blueprint saw an opportunity to collaborate with a local leasing broker and found a new medical technology tenant, Silk Road Medical, who signed a long-term lease for a majority of the rentable space.
Silk Road Medical, a cutting-edge, publicly traded medical device company, selected the location to grow its business into Minneapolis, one of the country’s leading medical device manufacturing markets.
The company developed a new approach for the treatment of carotid artery disease called Transcarotid Artery Revascularization, or “TCAR”, a minimally-invasive and technologically advanced intervention to safely and effectively treat carotid artery disease–one of the leading causes of stroke–which it seeks to establish as the standard of care.
With a strong local network, Blueprint was able to identify a private equity fund investor based in Minneapolis to purchase the asset.
Blueprint expands their ability to successfully market and sell niche asset classes in the healthcare space, adding Life Science to its repertoire.