Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Cushman & Wakefield Brokers $28M Sale of Minnesota Retail Center
Cushman & Wakefield facilitated the $27.65 million sale of Prairieview Center, a 113,601-square-foot regional retail center in Eden Prairie, Minnesota, anchored by Lunds & Byerlys, a grocery chain in the Twin Cities.
Cushman & Wakefield’s Retail Investment Advisors Evan Halkias and David Matheis, along with Zander Fried from the firm’s Minneapolis office, represented the seller, United Properties. The buyer was Phillips Edison & Company, Inc.
“The sale of Prairieview Center highlights the continued investor demand for institutional-quality, grocery-anchored centers in primary submarkets,” said Halkias, Cushman & Wakefield Executive Director. “With a strong lineup of tenants and its prime location, the property generated significant investor interest.”
Located at 928-970 Prairie Center Drive in Eden Prairie, a southwest suburb of Minneapolis, Prairieview Center was built in 1986 and renovated in 2018. Fully leased at the time of sale, the property includes a mix of local and national retailers, including Chase Bank, Culver’s and Starbucks.
