Report: Minneapolis Developer Buys JLT Property in Fridley
The site, 27 acres at the northeast corner of I-694 and East River Road, was sold for $1.375 million, Finance and Commerce reported.
John Allen of the Industrial Equities development company is the new owner of the JLT property at the northeast corner of I-694 and East River Road, according to Finance and Commerce (a subscription-only article):
Minneapolis developer John Allen has paid $1.375 million for a long vacant Mississippi River site in Fridley that Jerry Trooien’s JLT Group lost to receivership.
That's confirmed in Anoka County property records for the property (see PDF):
|Owner||INDUSTRIAL EQUITIES RIVER ROAD LLC|
|Last Sale Date||12/28/2012|
|Last Sale Price||1,375.00|
|Address||5601 E RIVER RD NE , FRIDLEY, MN 55432-0000|