Hanley Investment Group Real Estate Advisors arranged the sale of Edinburgh Festival Centre, a 96%-occupied 91,563-square-foot grocery-anchored shopping center in Brooklyn Park, Minnesota. The sale price was $11.9 million.
Hanley Investment Group’s executive vice presidents Bill Asher and Jeff Lefko, in association with ParaSell, Inc., represented the seller, LS Capital, Inc., a real estate asset management investment firm based in Los Angeles, California, and the buyer, a private investor from Northern California.
Located at 8505-8595 Edinburgh Centre Drive in Brooklyn Park, Edinburgh Festival Centre is anchored by a 54,476-square-foot Festival Foods grocery store at the signalized intersection of Edinburgh Centre Drive and 85th Avenue, adjacent to State Highway MN-252. The shopping center, which was built in 1996, spans 12.20 acres. In addition to Festival Foods, it features a synergistic mix of internet-resistant tenants, including food, service-based, medical, and goods-based retailers such as Dollar Tree, Caribou Coffee, Dairy Queen, Jackson Hewitt Tax Service, Kumon Reading and Math Center, and State Farm Insurance.
Festival Foods stores in St. Paul and Minneapolis are owned by Knowlan’s Super Markets, Inc. Based in Vadnais Heights, Minnesota, the company owns six Festival Foods stores and two Knowlan’s Fresh Foods stores.
