Carlyle Realty Partners V Sells Centennial Shops for $32 Million in Minnesota

by Katie Sloan

Edina, Minn. — Carlyle Realty Partners V LP has sold Centennial Shops in Edina to Ramco-Gershenson Properties Trust for $32 million.

The sale of the shopping center, located along France Avenue at 3825 Gallagher Drive, is the largest transaction by dollar amount for a retail property in the Minneapolis-St. Paul market so far this year. The 85,200-square-foot lifestyle center was 100 percent leased at the time of sale to tenants including West Elm and The Container Store. George Good and Jim Leary of CBRE marketed the property for sale.

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