ARA Acquires 403,219-Square-Foot Retail Center in Minnesota for $126.3 Million

by Camren Skelton

Eagan, Minn. — American Realty Advisors (ARA) has acquired Central Park Commons in Eagan.

The sales price was not disclosed, but the Minneapolis/St. Paul Business Journal reports the asset sold for $126.3 million. The 403,219-square-foot retail center is currently 97 percent occupied by tenants including Hy-Vee, HomeGoods, Marshalls, Hobby Lobby, Ulta Beauty and Petco. The newly constructed property also includes medical office space. Bob Mahoney of CBRE represented the seller, a joint venture between CSM Corp. and John Johannson.

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