Kraus-Anderson Realty purchased the Midway Marketplace retail center at University and Hamline Avenues in St. Paul, Minnesota. KA Realty bought the property from Beachwood, Ohio-based RVI.
Built in 1994, the 324,430-square-foot center features a lineup of national and regional anchors and tenants, including Walmart, Cub Foods, TJ Maxx, LA Fitness and Dollar Tree. Other tenants include Sprint, Leeann Chin, The UPS Store, Mother Nature’s Vitamins and Midway Tobacco & Cigar Place.
Midway Marketplace complements Kraus-Anderson’s strategic plan, which includes consistent growth through development and acquisitions of its already substantial and diverse real estate portfolio.
Midway Marketplace is strategically located next to the Snelling Midway Redevelopment Project, featuring Allianz Field, home of the Minnesota United Football Club. In addition to the new soccer facility, redevelopment plans include the addition of office, retail, residential, hotel and other civic improvements that will create a live/work/play environment that will revitalize the area and draw patrons from throughout the Twin Cities.
