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Timber Development Corp. Sells Three Shopping Centers Totaling $11.2 Million

by Hayden Spiess

Longwood, Fla. — Timber Development Corp. has completed the sale of three retail centers for a total of $11.2 million. The properties are located in Nebraska, Ohio and Minnesota. Eric Abbott and Zach Taylor of Marcus and Millichap represented Timber in the $4.6 million sale of the Norfolk, Nebraska, shopping center, which comprises 36,500 square feet and is shadow-anchored by Walmart. Bentley Coe Plaza — a 36,600-square-foot center located in Olmsted, Ohio — was purchased for $4.4 million. Kyle Hartung of Goodman Realty brokered the transaction. AJ Prins of CBRE …

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CBRE Negotiates Sale of 446,308-Square-Foot Retail Center in Suburban Minneapolis

by Hayden Spiess

Roseville, Minn. — CBRE has negotiated the sale of Har Mar Mall in Roseville, a suburb just north of the Twin Cities. Located at 2100 Snelling Ave., the retail power center spans 446,308 square feet and is home to tenants such as Cub Foods, Burlington, Barnes & Noble, Marshalls, HomeGoods, Michaels and K&G Fashion Superstore. CBRE represented the seller, Clarion Partners. Fidelis was the buyer.

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Northmarq Agrees to Acquire Commercial Real Estate Brokerage Stan Johnson Co.

by Katie Sloan

Minneapolis and Tulsa, Okla. — Commercial real estate capital markets platform Northmarq has agreed to acquire Stan Johnson Co., a Tulsa-based real estate brokerage and advisory firm, for an undisclosed price. The acquisition will include Stan Johnson’s affiliated debt services company, Four Pillars Capital Markets. Minneapolis-based Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing. The company boasts an annual transaction volume of $33 billion and has 22 investment sales offices across 13 states. Stan Johnson Co. has closed nearly 7,500 transactions exceeding $45 …

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Investment salesMinnesotaNews

Upland Arranges $4.5 Million Sale of KinderCare-Occupied Property in Suburban Minneapolis

by Katie Sloan

Lakeville, Minn. — Upland Real Estate Group has arranged the $4.5 million sale of a retail property occupied by KinderCare Learning Center in the Minneapolis suburb of Lakeville. The building is part of Crossroads of Lakeville, a 127,070-square-foot shopping center anchored by Cub Foods. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland brokered the sale. A local buyer purchased the asset while completing a 1031 exchange. KinderCare operates more than 1,500 early childcare centers in 40 states.

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Investment salesMinnesotaNews

Arizona Partners Acquires 279,343-Square-Foot Shopping Center in Suburban Minneapolis

by Julia Sanders

Maplewood, Minn. — Arizona Partners has acquired Birch Run Station in Maplewood, about 14 miles from Minneapolis. The 279,343-square-foot shopping center is home to tenants such as Burlington, Jo-Ann and Dollar Tree. CBRE represented the seller, Voya Investment Management, in the transaction.

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Dick’s Sporting Goods Opens House of Sport Experiential Concept Store in Metro Minneapolis

by Julia Sanders

Minnetonka, Minn. — Dick’s Sporting Goods plans to open a new store this May in Minnetonka, about 14 miles from Minneapolis. The retailer also plans to hire more than 200 associates at its new store, which will be located at 12437 Wayzata Blvd. The House of Sport Experiential Concept store will feature a 35-foot rock climbing wall, batting cage for baseball and softball, golf hitting bays, putting green, hock shop, health and wellness destination and a service area dedicated to sharpening hockey skates, breaking in gloves, stringing lacrosse sticks and …

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Investment salesMinnesotaNews

JLL Arranges Sale of 398,585-Square-Foot Shopping Center in Metro Minneapolis

by Julia Sanders

Edina, Minn. — JLL Capital Markets has arranged the sale of Galleria Edina, a 398,585-square-foot enclosed regional shopping center in Edina, about 10 miles from Minneapolis. Danny Finkle, Barry Brown, Dave Monahan, Amy Sands, Cameron Pittman, Matt Hazelton and Cory Villaume of JLL represented the undisclosed seller in the disposition of the property to 70th Street Properties LLC. Park State Bank provided financing for the acquisition. Located at 3510 West 69th St., Galleria Edina was 99 percent leased at the time of sale to tenants including Louis Vuitton, Tiffany & …

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Investment salesMinnesotaNews

Hanley Investment Group Negotiates $3.5 Million Sale of Raising Cane’s Ground Lease in Metro Minneapolis

by Julia Sanders

St. Cloud, Minn. — Hanley Investment Group Real Estate Advisors has negotiated the $3.5 million sale of a Raising Cane’s ground lease in St. Cloud near Minneapolis. Built in 2021, the 3,493-square-foot restaurant is located at 2635 W. Division St. Jeff Lefko and Bill Asher of Hanley, in conjunction with Rob Wise of CBRE, represented the seller, TOLD Development Co. Chris Rodriguez of Pacific Commercial Investments Inc. represented the buyer, Caravella Properties.

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Investment salesMinnesotaNews

Hanley Investment Group Arranges $3.5 Million Sale of Raising Cane’s Property in St. Cloud

by Julia Sanders

St. Cloud, Minn. — Hanley Investment Group Real Estate Advisors has arranged the $3.5 million sale of a 3,493-square-foot retail property occupied by Raising Cane’s at 2635 W. Division St. in St. Cloud. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with Rob Wise of CBRE, represented the seller, TOLD Development Co. Chris Rodriguez of Pacific Commercial Investments Inc. represented the buyer, Caravella Properties. The newly constructed single-tenant property is ground leased to Raising Cane’s on a long-term, absolute triple-net, corporate-guaranteed lease.

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Hanley Investment Group Arranges $11.5 Million Sale of Three-Tenant Outparcel in Metro Minneapolis

by Julia Sanders

Coon Rapids, Minn. — Hanley Investment Group Real Estate Advisors has arranged the $11.5 million sale of Riverdale Village, a three-tenant outparcel in Coon Rapids, roughly 15 miles outside Minneapolis. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with Robert Wise with CBRE, represented the seller, OneCorp Global. Boston Weir of Henry Group Real Estate represented the buyer, an undisclosed private investor based in Evergreen, Colorado. Built in 2021, the property includes a single-tenant, 4,150-square-foot building with a drive-thru occupied by Bank of America and a two-tenant, …

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