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Chicago & Midwest  + Midwest  + Retail  | 

Hanley Arranges Sale of $12M Grocery-Anchored Center in Minneapolis

Hanley Investment Group Real Estate Advisors, a real estate brokerage and advisory firm specializing in retail property sales, arranged the sale of Edinburgh Festival Centre, a 91,563-square-foot grocery-anchored shopping center in Brooklyn Park, Minnesota, for $11.9 million. The asset was 96 percent occupied at the time of sale.

Hanley’s EVPs Bill Asher and Jeff Lefko, in association with ParaSell, Inc., represented the seller, LS Capital, Inc., a real estate asset management investment firm based in Los Angeles. The buyer was a private investor from Northern California.

“We helped the buyer facilitate a year-end closing in a short timeframe that included obtaining financing from a local bank despite the more challenging capital market conditions in the fourth quarter of 2023,” said Asher.

Located at 8505-8595 Edinburgh Centre Drive, the property is anchored by a 54,476-square-foot Festival Foods grocery store. The shopping center features a mix of tenants, including food, service-based, medical, and goods-based retailers.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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