Just Sold: Truth Hardware Sells One Owatonna Plant
After a decade of mergers and acquisitions, the newest incarnation of Minnesota-based Truth Hardware is consolidating its Owatonna operations in one location and selling a building it plans to close by the end of this year.
Edina-based Truth Hardware Corp. has sold its 75,000-square-foot plant and 11.24 acres at 205 24th Ave. SW for $3.25 million. The price works out to $43.33 per square foot.
The buyer is an entity related to Arise Commercial in Owatonna. Ashley Moen, James Vos and Andrew Yung of Cresa represented the seller.
The plant, built in 1989, has seven dock doors, one drive-in door and 24 feet of clear height.
The company website explains that Truth Hardware began in 1914 as a blacksmith shop in Ellendale and in 1955 began designing and manufacturing window and door hardware.