Maryland RE Investment Firm Acquires Minneapolis-Area Shopping Center
First Washington reports that effective immediately, the asset will be rebranded and named Eden Prairie Village Shopping Center as a tribute to the local community.
EDEN PRARIE, MN—Bethesda, MD-based First Washington Realty has added to its Midwest portfolio with the acquisition of the more than 78,000-square-foot Prairie Village Shopping Center here.
The 78,313-square-foot community shopping center, which is located in the greater Minneapolis market, is anchored by the region’s top specialty grocery store, Kowalski’s. The property also features a mix of national, regional and local merchants. No financial details of the transaction were released.
First Washington reports that effective immediately, the asset will be rebranded and named Eden Prairie Village Shopping Center as a tribute to the local community.
“We believe Eden Prairie Village Shopping Center is a generational asset in one of the most desirable suburbs of Minneapolis. We are very pleased to have the opportunity to purchase this wonderful center on an off-market basis. We look forward to growing our presence in the Twin Cities and managing this special community asset for years to come,” states Alex Nyhan, co-president and managing director of First Washington Realty.
The Eden Prairie Village Shopping Center is currently 98.4% leased and represents First Washington Realty’s third property in the Twin Cities.
FWR currently owns 97 shopping centers with a value of more than $4.9 billion located in 22 states and the District of Columbia. The centers contain approximately 12.9 million square feet with approximately 2,400 tenants. The company also has offices in Dallas, Kansas City and San Diego.