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Columbia Heights, Minn. and Charlotte, N.C. — Baceline Investments LLC has acquired two shopping centers in Minnesota and North Carolina for a combined $12.3 million.
The Denver-based company purchased Central Plaza in Columbia Heights, Minnesota, for $7.2 million from Central Plaza Associates LLC, an affiliate of Paster Properties. The center, located six miles north of downtown Minneapolis, was 92 percent leased at the time of sale. Baceline purchased Galleria Village in Charlotte, North Carolina, from an affiliate of Cohen Equities for $5.1 million. The center was 83 percent leased at the time of sale.