MinnesotaNet LeaseRetail Hanley Investment Group closes sale of Chipotle property in Twin Cities market August 5, 2020 Share on Facebook Share on Twitter Share on LinkedIn Share via email Hanley Investment Group Real Estate Advisors arranged the sale of a new two-tenant Chipotle Mexican Grill with “Chipotlane” drive-thru and Heartland Dental in Forest Lake, Minnesota, in the Twin Cities metro area. The property is adjacent to Walmart Supercenter-, ALDI- and Target-anchored shopping centers. The sale price was $3.425 million. Despite the challenges of the COVID-19 pandemic, this transaction represents Hanley Investment Group’s fifth Twin Cities retail transaction this year. Hanley Investment Group Executive Vice Presidents Jeff Lefko and Bill Asher represented the seller, Glenborough LLC, a California-based private real estate investment management company. The buyer was a private investor from Duluth, Minnesota, represented by Deborah Vannelli of Upland Real Estate Group in Minneapolis. Located at 107 12th St. SW in Forest Lake, the 6,812-square-foot building sits on a 1.05-acre pad adjacent to the signalized intersection of Broadway Avenue and 12th Street, with 40,000 cars per day at the intersection. The property is located next to Interstate-35, a primary north/south freeway that connects Forest Lake to St. Paul and Minneapolis to the south. Lefko and Asher are one of the most active net-lease teams in the Midwest with more than $400 million in Midwest transaction volume. In the last 18 months, Lefko and Asher have sold $52 million in retail properties in the Twin Cities metro area.