MINNEAPOLIS (09/10/2018) – Cushman & Wakefield has been selected to market the sale of Centennial Lakes Plaza, a 198,217-square-foot best-in-class retail center located in Edina, Minnesota. Fain Hicks, Evan Halkias and Leah Maurer of Cushman & Wakefield are marketing the center on behalf of the seller, an institutional investor. The sale is expected to exceed $70 million.
“Centennial Lakes Plaza is Minnesota’s premier retail center supported by highly affluent demographics and a densely populated trade area with the Twin Cities’ second highest daytime population totaling more than 120,000 employees daily,” Maurer said. “The new owner will have a fantastic opportunity to lease existing vacant spaces and optimize the merchandising mix and tenant spaces fronting Centennial Lakes Park.”
Located 10 miles southwest of downtown Minneapolis, the Whole Foods-anchored center is currently 97.8 percent leased to an excellent line-up of diverse tenants including HomeGoods, Office Depot, La-Z-Boy and Starbucks. Centennial Lakes Plaza is located near the 825,000-square-foot Centennial Lakes Office Park as well as the 24-acre Centennial Lakes Park, and offers unparalleled regional connectivity due to its proximity of four major thoroughfares including Interstates 494 and 35 West, and Highways 100 and 62.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Adam Rae Voge