 |
| Amy Sands |
MINNEAPOLIS, MN, March 14, 2022 – JLL Capital Markets has closed the sale of Galleria Edina, a 398,585-square-foot enclosed regional shopping center destination home to a collection of best-in-class retailers and unique dining options in the Minneapolis suburb of Edina, Minnesota.
 |
| Danny Finkle |
Galleria Edina is 99 percent leased to a
meticulously curated collection of highly sought-after international brands,
luxe boutique retailers and one-of-a-kind restaurants such as Louis
Vuitton, Tiffany & Co., Lululemon, Peloton, Tory Burch, Pottery Barn,
Bluemercury, Warby Parker, Coach, Filson, Shinola, Sundance, Rypen,
Rejuvenation, David Yurman and more.
The
Galleria has experienced strong leasing momentum since the first quarter of
2020, with more than 170,000 square feet of new leasing signed.
 |
| Barry Brown |
The
property is within a thriving submarket that is home to a nationally recognized
healthcare campus, 33 million square feet of office space, a top hotel and
numerous new multi-housing developments.
Additionally,
the asset is surrounded by a highly educated population and in one of the
highest net-worth zip codes.
The JLL Retail team representing the
seller was led by Senior Managing Directors and Co-Heads of U.S. Retail Capital
Markets Danny Finkle and Barry Brown; Senior Managing Director Dave
Monahan; Managing Director Amy Sands; and Senior Directors Cameron
Pittman, Matt Hazelton and Cory Villaume.
 |
| Dave Monahan |
“Galleria Edina is one of the premier retail assets in the Midwest and has an expansive trade area as a result of being the sole location for many of the tenants in the Midwest region,” Finkle said.
“This
is the essence of a generational asset within a remarkable market with
unlimited growth opportunities ahead.”
Park State Bank led the financing of the
Galleria. Park State Bank was named the Top-Performing Community Bank in
Minnesota with assets under $3B by S&P Global Market Intelligence the last
four years (2017, 2018, 2019 and 2020).
 |
| Cameron Pittman |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
Contact:
Kimberly
Steele
JLL
Manager
Public Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
No comments:
Post a Comment