JLL Capital Markets has closed the sale of Galleria Edina, a 398,585-square-foot enclosed regional shopping center destination home to a collection of best-in-class retailers and dining options in the Minneapolis suburb of Edina, Minnesota.
JLL was the sole marketing advisor to the seller. 70th Street Properties LLC, a local investor group, acquired the asset.
Galleria Edina is 99 percent leased to international brands, luxe boutique retailers and one-of-a-kind restaurants such as Louis Vuitton, Tiffany & Co., Lululemon, Peloton, Tory Burch, Pottery Barn, Bluemercury, Warby Parker, Coach, Filson, Shinola, Sundance, Rypen, Rejuvenation, David Yurman and more. The Galleria has experienced strong leasing momentum since the first quarter of 2020, with more than 170,000 square feet of new leasing signed.
Positioned at 3510 W. 69th St., Galleria Edina is in Edina, one of Minnesota’s fastest-growing and affluent communities. The property is within a thriving submarket that is home to a nationally recognized healthcare campus, 33 million square feet of office space, a top hotel and numerous new multi-housing developments. Additionally, the asset is surrounded by a highly educated population and in one of the highest net-worth zip codes.
The JLL retail team representing the seller was led by Senior Managing Directors and Co-Heads of U.S. Retail Capital Markets Danny Finkle and Barry Brown; Senior Managing Director Dave Monahan; Managing Director Amy Sands; and Senior Directors Cameron Pittman, Matt Hazelton and Cory Villaume.
Park State Bank led the financing of the Galleria.
