Investment group

Hanley Investment Group Completes Minnesota Mall Sale

Hanley Investment Group Real Estate Advisors has arranged the sale of Riverdale Village, a new-build, three-tenant drive-thru investment located on an outdoor lot at Menards in Coon Rapids, Minnesota. The selling price was $11.45 million.

Hanley Investment Group executive vice presidents Jeff Lefko and Bill Asher, along with Robert Wise, vice president of CBRE in Minneapolis, represented the seller, OneCorp Global in Hollywood, Florida. The buyer, a private investor based in Evergreen, Colorado, was represented by Boston Weir, director of Henry Group Real Estate in Denver.

Built in 2021, the three-tenant investment consists of a 4,150 square foot single-tenant building with a drive-thru occupied by Bank of America and a 6,700 square-foot two-tenant building occupied by Famous Dave’s and Banfield. Hospital. The buildings are located on a 1.66 acre lot at the hard corner, at the signposted intersection of Northdale Boulevard and Main Street and adjacent to the US Route 10 entrance/exit ramps.

It is a dominant regional retail destination in the Riverdale shopping area, notes Lefko. Major tenants include Costco, Dick’s Sporting Goods, Kohl’s, Lowe’s, Target, The Home Depot, Walmart, ALDI, Bed Bath & Beyond, Best Buy, Cub Foods, DSW, Five Below, Hobby Lobby, HomeGoods, JOANN Fabric and Craft, Michaels, Menards, Petco, PetSmart, Sportsman’s Warehouse, TJ Maxx and ULTA Beauty.