March 19, 2015
BLAINE, MINN. – Transwestern’s Chicago office today announces it brokered the sale of The Village of Blaine Shopping Center at 4345 – 4349 Pheasant Ridge Road in Blaine, Minnesota. Pine Tree Commercial Realty LLC paid an undisclosed amount for the 221,239-square-foot center that is anchored by a Cub Foods grocery store. Transwestern Capital Markets Directors Janice Sellis and Paul Barile represented the seller, MEPT, and its real estate advisor, Bentall Kennedy.
In addition to Cub Foods, the largest grocer in the Minneapolis region in terms of both square footage and sales, tenants in the 13-year-old center include Michaels, Applebee’s, Pier 1 Imports, DressBarn, Sprint, Maurices, Caribou Coffee, Bath & Body Works, GNC and Great Clips.
Pine Tree Commercial Realty was represented internally in the transaction.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern and @TWChicagoISG.