Just Sold: Traction Capital buys Lakeville warehouse

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Editor’s note: “Just Sold” is a Finance & Commerce feature based on the newest certificates of real estate value filed with the Minnesota Department of Revenue for commercial sales throughout Minnesota and reports of sales across the country involving local parties. Research includes company and broker documents, online real estate listings, F&C archives, Catalyst and other research.

In 2019, Hopkins-based Superior Decks & Railings paid $837,000 for 5.15 acres in Lakeville‘s Airlake Industrial Park. It built a 61,600-square-foot industrial building where it could meet demand for decks, balconies, railings and other metal details needed for the apartment buildings popping up all over the Twin Cities.

In early March, Wayzata-based Traction Capital announced it had bought Superior Decks for an undisclosed amount. Minnesota Revenue Department records show an entity registered to the Traction Capital office bought the property at 7776 Lakeville Blvd. for $5 million. The price works out to $81.17 per square foot.

Dakota County set the assessed value of the property at $5,211,700 in 2024 and $5,750,700 in 2025, generating a 2025 tax bill of $144,486.

Place: 7776 Lakeville Blvd., Lakeville

Price: $5 million; no down payment listed; new mortgage; $81.17 per square foot

Buyer: Superior Decks Operating LLC, Wayzata

Seller: Superior Decks Inc., Hopkins

Date: 2-28-25

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Update: Koch terminal buyer is animal feed additive supplier

The March 22 Just Sold column reported the $9.9 million sale of the former Koch Trucking terminal at 500 30th Ave. NE in Minneapolis. The sale included a 126,758-square-foot building developed in 1967 on a 4.15-acre site.

The buyer wasn’t available to discuss plans at the time of publication, however.

Now Finance & Commerce can report that the buyer is an entity related to Bloomington-based SAM Nutrition.

SAM Nutrition is a global supplier of animal feed additives and ingredients, according to its website. It also works with distributors and manufacturers of human and plant nutrition, dyes, and leather products.

CEO Apoorva Shah shared that the acquisition represents an expansion for the second-generation family company, which will keep its current headquarters at 7760 France Ave. S. #1330.

“We’ve been actively searching for the right property for several years,” Shah said in an email interview.

“This property stood out because of its excellent logistics infrastructure and prime location. Its unique footprint offers us a chance to reduce operational costs, boost efficiencies, and support our ongoing efforts toward vertical integration into manufacturing in America. It’s a perfect fit for where we’re taking the company, especially with the global changes in supply chains taking place.

“This property will play a key role in our operations, serving as a hub for storage, distribution, and eventually manufacturing as we continue to build out those capabilities.”