Just Sold: Truth Hardware sells one Owatonna plant

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.

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After a decade of mergers and acquisitions, the newest incarnation of Minnesota-based Truth Hardware is consolidating its Owatonna operations in one location and selling a building it plans to close by the end of this year.

Edina-based Truth Hardware Corp. has sold its 75,000-square-foot plant and 11.24 acres at 205 24th Ave. SW for $3.25 million. The price works out to $43.33 per square foot.

The buyer is an entity related to Arise Commercial in Owatonna. Ashley Moen, James Vos and Andrew Yung of Cresa represented the seller.

The plant, built in 1989, has seven dock doors, one drive-in door and 24 feet of clear height.

The company website explains that Truth Hardware began in 1914 as a blacksmith shop in Ellendale and in 1955 began designing and manufacturing window and door hardware.

Truth Hardware and Amesbury merged in 2013 to become AmesburyTruth . In 2018, Ashland was acquired, and now the company is part of the Tyman North America division of Tyman , a London-based international supplier of engineered components to the window and door industry.

Place: 205 24th Ave. SW, Owatonna

Price: $3.25 million; $650,000 down payment; $43.33 per square foot; new mortgage

Buyer: Twenty Fourth LLC, Owatonna

Seller: Truth Hardware Corp., Edina

Date: 4-30-24

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Minnetonka medical office draws $2.5 million

MSP Commercial has sold a Minnetonka medical office reminiscent of a mid-century home in the woods for $2.5 million, a cool $1 million more than it paid five years ago.

MSP closed May 1 on the sale of the 9,084-square-foot clinic, built in 1979 at 17809 Hutchins Drive. It sits on a wooded lot in the southwest quadrant of Highway 7 and County Road 101. Today it houses three medical providers, Davita Dialysis , Anchored Orthodontics and Dentistry By Design . The price works out to $275.21 per square foot.



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The property provided a 1031 exchange investment for three buyers in California and one in Fargo, North Dakota.

Brian Bruggeman, Louis Suarez and Misty Bowe of Colliers represented MSP in the sale.

MSP bought the property in 2019 for $1,496,850, and started work on renovations and repairs.

Place: 17809 Hutchins Drive, Minnetonka

Price: $2.5 million cash (includes $200 in equipment); 1031 exchange; $275.21 per square foot

Buyer: Prabhavati Bharadwa, Rajnikant Bharadwa, Los Angeles; EWR Minnetonka Office LLC, Fargo, North Dakota; OFT Trade LLC, San Diego, California

Seller: MSP Hutchins LLC, Richfield

Date: 5-1-24

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