Chicago TREND closed the sale of Hawthorn Crossings Shopping Center in Minneapolis from Sherman Associates Commercial Properties. Under Chicago TREND’s ownership, HCSC has 97 small investors from Minneapolis who are co-owners of the property. The purchase price for HCSC was $9MM.
This first-of-its-kind offering will give the community co-owners a stake in HCSC’s ownership and success.
HCSC is located at West Broadway on the Northside of Minneapolis. The shopping center is a 51,459 square foot property that’s leased to a number of long-term tenants, including a community medical services provider, a family beauty supply business, McDonalds, O’Reilly Auto Parts, and US Bank.
By acquiring HCSC, TREND intends to extend the positive momentum on West Broadway by attracting new commercial tenants, upgrading the site landscaping and building conditions, and seeking to develop a new mixed-use structure in the parking lot.
HCSC is particularly well situated among major new developments in Minneapolis’ Northside. It’s located across from Northside Economic Opportunity Network’s (NEON) offices and Satori Village and blocks away from NEON’s new Collective Kitchens. The METRO Blue Line Extension, which is planned to open between 2028-2030, will add transit stops along the West Broadway corridor, with two stations planned within 0.5 miles of HCSC.
