on Kingsbarn Realty Capital
Kingsbarn Acquires Tesla Sales and Service Center in Affluent Suburb of Minneapolis-St. Paul
Kingsbarn Realty Capital has announced the acquisition of Tesla's new sales and service center at 9800 Hudson Boulevard, Lake Elmo, Minnesota. This center, completed in 2024, spans approximately 50,000 rentable square feet. It features Tesla's minimalist design, a service and maintenance area, design studio, customer lounge, and administrative offices. This is Kingsbarn's second Tesla property in the Minneapolis-Saint Paul metro area, which boasts a population of over 3.5 million.
Jeff Pori, CEO of Kingsbarn, expressed his satisfaction with this acquisition. He noted Kingsbarn's plans to offer Delaware Statutory Trust interests to private investors. Tesla's leading position in the electric vehicle market and technological advancements make it a reliable tenant.
Tesla, with a market cap over $574 billion as of May 2024, designs, manufactures, and sells electric vehicles and energy systems globally. It remains one of the world's most valuable companies, holding investment-grade credit.
R. H.
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