Kingsbarn Acquires Tesla Sales and Service Center in Affluent Suburb of Minneapolis-St. Paul
LAS VEGAS, July 2, 2024 (Newswire.com) - Kingsbarn Realty Capital (“Company” or “Kingsbarn”) has announced the acquisition of Tesla’s new sales and service center located at 9800 Hudson Boulevard, Lake Elmo, Minnesota (the “Property”). Recently completed in 2024 and designed for Tesla, Inc., the Property consists of approximately 50,000 rentable square feet and features Tesla’s typical minimalist, open-concept design, a service and maintenance area, design studio, customer lounge, and administrative offices. Serving the Minneapolis-Saint Paul metro area, also known as the Twin Cities, the Property is only a 10-minute drive from downtown Saint Paul. The Property is one of only five Tesla sales and service centers located in the Twin Cities, which is home to a population of over 3.5 million.
“Kingsbarn is very pleased to add our second Tesla-leased investment property to our portfolio,” stated Jeff Pori, CEO of Kingsbarn. “We intend to offer Delaware Statutory Trust (DST) interests to private investors as a simplified 1031 exchange solution through the purchase of shares. With its dominant position in the electric vehicle market and its consistent breakthroughs in battery and autonomous technology, Tesla is a strong, solid tenant in today’s market.”
Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles and energy generation and storage systems in the United States and internationally. With a market cap over $574 billion, as of May 2024, Tesla is one of the world’s most valuable companies and is considered to have investment-grade credit.
ABOUT KINGSBARN REALTY CAPITAL
Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange-traded funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $2 billion of assets under management and has acquired over 280 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, industrial, retail, and hospitality. For further information, visit www.kingsbarn.com.
Source: KIngsbarn Realty Capital
