West St. Paul, Minn. — PEBB Enterprises has sold the Hobby Lobby-anchored center in West St. Paul for $6.4 million. Located on four acres at 1660 S. Robert St., the 61,712-square-foot building was originally constructed in 1982 and renovated in 2015. Hobby Lobby occupies the building under a sublease agreement, and the store is located close to Super Target, Walmart and Lowe’s Home Improvement. A San Diego-based entity doing business as Mesa Shopping Centers LLC is the buyer. Minneapolis-based Upland Real Estate Group marketed the property for sale on behalf of PEBB. The property was originally a Rainbow Foods (Roundy’s) grocery store before the lease was assigned to J.E. West Saint Paul in 2014, which closed the grocery store and subleased the building to Hobby Lobby.
PEBB Enterprises Sells Hobby Lobby-Leased Store in West St. Paul, Minnesota for $6.4 Million