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Investors Clamour for Grocery-Anchored Retail

Grocery-anchored centers are especially appealing if it has a hot retailer like Fresh Thyme.

min-PennAmerican (2) Penn-American shopping center sites at a perfect location in Bloomington, MN, a high-income suburb of Minneapolis.

MINNEAPOLIS—The US as a whole might be over-retailed, and e-commerce is definitely eating into many stores’ customer bases, but the right properties in the right location still attract big dollars.   

Stan Johnson Co., a Tulsa, OK-based net lease brokerage firm, has completed the sale of Penn & American – a 58,531-square-foot retail center anchored by Fresh Thyme Farmers Market. The center is located at 2100 W. 80th Street, Bloomington, MN, a Minneapolis suburb. The buyer was WI-based SARA Investment Real Estate, and the asset traded for $19 million on July 11, 2018.

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Brian J. Rogal

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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