Retail W Minnesota

Pine Tree Commercial Realty buys 221,000-square-foot shopping center in Minneapolis suburb

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Northbrook, Ill.-based Pine Tree Commercial Realty has acquired the Village of Blaine Shopping Center in Blain, Minn., in partnership with Boston-based The Davis Companies.

Northbrook, Ill.-based Pine Tree Commercial Realty has acquired the Village of Blaine Shopping Center in Blain, Minn., in partnership with Boston-based The Davis Companies.

Located in the affluent Minneapolis suburb of Blaine and anchored by a 70,643-square-foot Cub Foods, the 221,239-square-foot shopping center represents the 74th property acquired or developed by Pine Tree in its 20 years of business.

The property was acquired from Bentall Kennedy and brokered by Paul Barile and Janice Sellis of Transwestern. Financing was arranged by Bill Barry of Draper & Kramer and originated by Cindy Erickson for Wells Fargo’s Chicago office.

Along with eight other properties located across six states, the recent Village of Blaine acquisition brings total Pine Tree-affiliated partnership investments during the past 16 months to $245 million.