The tenant has eight years remaining on the original the 11-year lease. Swervo considers the acquisition a passive investment, according to Safe Harbor Properties Exchange, LLC of Minneapolis, the firm that represented the seller. Mike Roess of Coldwell Banker Burnett represented the buyer.
Safe Harbor employees who worked on the deal include co-founders Keith Sturm and Michael Houge, and Deborah Vannelli. Safe Harbor is a company that specializes in the sale of tenants-in-common investment properties to the 1031 Exchange market. Safe Harbor is a tenants-in-common investment property marketing and sales company backed by the Upland Real Estate Group, Inc., a Minneapolis commercial real estate firm, and The Geneva Organization, a Minneapolis based, private real estate wealth management company, which specializes in the formation and management of closed-end real estate funds.
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