This acquisition adds to The Terrace Group’s portfolio of flex industrial properties in the Twin Cities metro area.
March 17, 2026 – The Terrace Group is pleased to announce the acquisition of River Tech Workplace, located at 5155 – 5301 East River Road in Fridley, Minnesota. Bentley Smith of CBRE represented the seller in the sale of the property to an entity affiliated with The Terrace Group. Midloch Investment Partners, based in Chicago, is The Terrace Group’s equity partner in the acquisition.
The four-building flex industrial business park totals approximately 270,022 square feet and is situated on nearly 20 acres in a well-established employment corridor just northeast of downtown Minneapolis. Constructed in 1987, River Tech Workplace features a diverse mix of spaces designed to accommodate a wide range of tenants including light industrial, service, technology and medical users.
Strategically located along East River Road in the North Central submarket, the property offers convenient access to major transportation routes (Interstate 694, Highway 252 and Interstate 94) providing efficient connectivity for tenants and their employees. The campus setting, flexible building configurations and ample parking position River Tech Workplace as a highly adaptable environment for growing businesses.
“We were particularly drawn to River Tech Workplace because of its scale, diverse tenant base and strategic location within a mature submarket,” commented Todd Geller, Partner with The Terrace Group. “Assets like this which offer a flexible mix of office and light industrial spaces continue to see strong demand from a wide range of users. We look forward to working with the existing tenants and making targeted improvements that will further enhance the property.”
“The Terrace Group is a strong operator. We’re pleased to invest alongside them in the River Tech transaction,” said Andy Sinclair, CEO and Principal of Midloch Investment Partners. “River Tech continues to fit our thesis of investing in industrial business parks catering to small to medium-sized tenants. The property remains well occupied and is in a resilient market in Minnesota.”
The addition of River Tech Workplace further expands The Terrace Group’s footprint in the Twin Cities and complements the firm’s existing portfolio of flex industrial assets throughout the region.
