BURNSVILLE, MN-The mall is sold by First American Asset Management and is leased up with such tenants as Linen 'n Things and Kinko's. New ownership is a partnership led by Peter Herfurth of Medina, MN.
The seller was First American Asset Management fund, managed by Minneapolis-based First Asset Realty Advisors. Herfurth and his partners also own Prairie Village retail center in Eden Prairie and Leisure Lane retail center in Edina.
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Uncertainty grows as prices and sales volumes retreat.
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Metro-level nuances reveal opportunities that might not be obvious based on national trends.
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Vacancy is set to tick up 10 basis points this year but remain 110 basis points below the national average.
