SOLD: 12,083 square foot retail center in Cottage Grove, Minn.
(08/2013) Cottage Grove, Minn. – Matthew Klein, CCIM of KW Commercial Midwest, has facilitated the purchase of the Highway 61 retail center in Cottage Grove, Minn. Mid-Con Investments, LLC, acquired the retail center from Alpha Opportunity Fund 1, LLC. The retail center is a 12,083 square-foot multi-tenant neighborhood center located a few blocks north of the Highway 61 and Jamaica Avenue intersection. At the time of sale, the property was approximately 36 percent leased. The new owner is willing and able to work with prospective tenants on new lease transactions.
“We view the acquisition as a good value-add opportunity due to the building’s flexible space options, diverse tenant mix, and improving market fundamentals," said Klein.