Mid-America Real Estate Corporation’s Investment Sales Group brokered the sale of Kensington Park, a 28,135-square-foot neighborhood retail center in Richfield, Minnesota.
Kensington Park serves the established suburb of Richfield located just south of downtown Minneapolis. Its primary tenants include Chipotle, Noodles & Company, Potbelly, and Sarpino’s Pizza. Nearly 70% of the occupied GLA has operated at the center for over 10 years and some tenants since the inception of the center. Within a 3-mile radius of the subject offering, there are over 116,000 residents enjoying average household incomes of more than $120,000 and an increased daytime population of 164,000 people.
Mid-America Real Estate – Minnesota, LLC Principal Amy Senn and Associate Bryce Thompson, in cooperation with Mid-America Real Estate Corporation Principal Joe Girardi and Associate Eric Geskermann, served as the exclusive listing brokers on behalf of the seller, Solomon Real Estate. The center was acquired by Black Gate Partners for $6,800,000.
