The recent sale of South Pond Center, a 26,020-square foot retail property in Champlin, Minnesota, was featured this week by REBusiness Online.
“The marketing of this center generated multiple offers, clearly showing that there is pent up demand for well-located class B and C centers”, said Matt Hazelton, principal partner at Northstar Retail Group. “South Pond Center had vacancy and below-market rents, leaving the new owner the opportunity to increase occupancy and grow rents.”
The senior partners at Northstar represented the seller, a limited liability company; agents Claire Roberts and Marc Paylor from the Marcus & Millichap Minneapolis office uncovered and represented the ultimate buyer of the property. South Pond Center sold for $2.5 million.
Read about the sale of South Pond Center on REBusiness Online’s website.