Kingsbarn Realty Capital has announced the acquisition of Tesla’s new sales and service center located at 9800 Hudson Boulevard, Lake Elmo, Minnesota. The property, which was recently completed in 2024 and designed for Tesla, Inc., spans approximately 50,000 rentable square feet. It features Tesla’s signature minimalist, open-concept design, a service and maintenance area, design studio, customer lounge, and administrative offices. The property serves the Minneapolis-Saint Paul metro area, known as the Twin Cities, and is just a 10-minute drive from downtown Saint Paul. This location is one of only five Tesla sales and service centers 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. As of May 2024, Tesla boasts a market capitalization of over $574 billion, making it one of the world’s most valuable companies and is considered to have investment-grade credit.
