Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Advertise
  • Real Estate Awards
  • Login/Register
MinnesotaRetail

Hanley Investment closes $11 million sale of Minneapolis-area retail center

September 5, 2019
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Hanley Investment Group Real Estate Advisors closed the sale of Commons Plaza, a new-construction, retail property consisting of three freestanding buildings in Woodbury, Minnesota. The sale price was $11.78 million, representing the highest price per square foot and the lowest cap rate for a multi-tenant pad building above $10 million in the Midwest.

Hanley Investment Group vice president Jeff Lefko and executive vice president Bill Asher represented the seller, Onecorp of Davie, Florida. The buyer, a private investor from Orange County, California, was represented by Steve Tucker of Tucker Investments in Corona del Mar, California.

Commons Plaza is located at 720-740 Commons Drive in Woodbury and features a new 2,926-square-foot freestanding Raising Cane’s with a drive-thru.

Commons Plaza also includes a freestanding Sleep Number store. Sleep Number relocated from Woodbury Lakes to Commons Plaza to have better visibility and occupy a new 3,551-square-foot freestanding building on a hard corner. Sleep Number has more than 590 locations in all 50 states and is headquartered in nearby Minneapolis.

The other building at Commons Plaza is a two-tenant, 7,199-square-foot retail building that includes a 5,007-square-foot WellHaven Pet Health and a 2,192-square-foot Restore Cryotherapy.

Commons Plaza is located at the hard corner, signalized intersection of Radio Drive and Tamarack Road with 40,000 cars per day. According to Asher, Radio Drive is one of the most desired retail thoroughfares in Woodbury and a top choice for any national tenants that want to occupy space in the Twin Cities.

Tamarack Village, an 800,000-square-foot, super-regional shopping center, is located across the street from Commons Plaza. CityPlace, a newly constructed 100-acre master-planned retail/mixed-use development, is located directly behind the property at the southeast corner of Interstate 94 and Radio Drive.

Tags
Hanley InvestmentMinneapolisMinnesotaretailWoodbury
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisMultifamily

Top Gen Z locations in Illinois? Rockford and Evanston, report suggests

AJ LaTraceMarch 2, 2021
IllinoisIndustrial

ML Realty Partners announces completion of new facility in suburban Chicago

March 2, 2021
IllinoisFinance

Mag Mile Capital hires VP of originations for Chicago office

March 2, 2021
MissouriOffice

Kessinger Hunter leasing Kansas City star building

March 2, 2021

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Advertise
  • Office Locations
© 2021 REjournals.com