A St. Louis Park office-industrial building with outdoor storage has sold for $2.58 million to an entity related to Sunnyside Gardens, a popular garden and landscaping center in south Minneapolis.
The buyer, identified as SLP II LLC in Minneapolis, acquired the building from HH Edgewood LLC in Mankato.
The 19,688 square-foot building was developed in 1961 on 2.11 acres at 2231 Edgewood Ave. S.
The block and brick building has four dock doors, eight drive-in doors and 17 feet of clear height
Charlie Merwin and Clint Moe of the Bloomington office of Cushman & Wakefield represented the seller. Chris Ames of Landmark Real Estate represented the buyer.
Place: 2231 Edgewood Ave. S., St. Louis Park
Price: $2.58 million; cash
Buyer: SLP II LLC, Minneapolis
Seller: HH Edgewood LLC, Mankato
Date: 7-31-24
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German firm buys N. Mankato manufacturer
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The owners of Blue Star Power Systems Inc. in North Mankato have sold the company to DEUTZ, a German maker of industrial engines, which completed its purchase of all the shares in Blue Star at the start of August for an undisclosed price. And now, in a related sale, the owners of Blue Star’s headquarters in North Mankato have sold it to Blue Star for $10 million. The cash sale closed Aug. 5.
Blue Star Power Systems develops, produces, and sells electric generators (gensets) and is one of the leading manufacturers in the United States, according to the announcement of the acquisition.
Blue Star started in 2000 as a 5,000-square-foot job shop in Lake Crystal, and in 2010 moved to a 45,000-square-foot building in the same city. In 2019, the owners built their current 85,000-square-foot headquarters and plant on 13 acres at 2250 Carlson Drive in North Mankato.
The headquarters includes 67,000 square feet of manufacturing space, incorporating six production bays each fully equipped with 36-foot clear spans and 40-ton lifting capacity cranes. The facility also features a new down-draft state-of-the-art paint booth and four test bays.
The DEUTZ announcement said it now can tap into the rapidly growing market for decentralized electricity generation in the United States, creating additional profitable revenue of more than $100million per year.
“We are delighted to welcome the team at Blue Star Power Systems to our DEUTZ family,” says CEO Dr. Sebastian C. Schulte, “We are strengthening our business and accelerating our efforts to build up our decentralized energy supply activities under our Dual+ strategy. This means we can put DEUTZ on a broader and more resilient footing.”
For DEUTZ, the acquisition is an important step from a component manufacturer to a solutions provider. DEUTZ engines have long been used in generator sets, and now the company is laying the foundations for offering complete solutions for local power generation.
“We are proud of what we have built up together as a team here at Blue Star Power Systems,” says founder Doug Fahrforth, who will continue to run the firm until 2026. “We are pleased to be able to take our business to the next level as part of DEUTZ. Drawing on our extensive product range and strong branch network, we will expand globally and enhance our portfolio of sustainable products.”
Place: 2250 Carlson Drive, North Mankato
Price: $10 million; cash
Buyer: Blue Star Power Systems LLC, North Mankato
Seller: West Lake Holdings LLC North Mankato
Date: 8-5-24
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