Retail W Minnesota

CBRE helps close sale of 44,000-square-foot shopping center in MInnesota

  

CBRE Investment Properties Group represented ownership in the sale of Rosemount Crossings, a 44,194-square-foot grocery-anchored retail center in Rosemount, Minnesota, for $7.6 million

Jim Leary, a senior vice president in CBRE’s Minneapolis office, represented the seller Rosemount Crossings LLC in the sale to a Seattle-based investment entity.

Located 20 miles south of the Twin Cities on South Robert Trail, Rosemount Crossings is a three-building retail center anchored by Aldi and Starbucks Coffee in the suburb of Rosemount. The center was 92 percent occupied at the time of the sale. Other tenants include Park Dental, Snap Fitness, Sprint and Fantastic Sams.

“The investment offering generated over a dozen bids and is emblematic of the continued very strong interest from investors in the grocery-anchored retail category, especially when the grocer-anchor is as highly respected as national retailer Aldi,” said Mr. Leary.

Rosemount Crossings was built in 2005 and is located on a 5.83-acre site consisting of a 17,427-square-foot Aldi grocery store, a 4,582-square-foot strip and a 22,185-square-foot strip.

Rosemount Crossings is located at the intersection of County Road 42 and South Robert Trail, major corridors for shopping, commuting and local traffic.