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JLL has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Ridgehaven Shopping Center (the “Property” or the “Offering”) – a 140,418 square foot asset anchored by a high performing Lunds & Byerlys that has over 15 years of remaining lease term. Lunds & Byerlys is complemented by Barnes & Noble, Ulta and shadow anchor Target, which leases a 16,240 SF, specifically built-out storage & refrigeration space at Ridgehaven, and which saw over 1.4 Million visitors in the last 12 months.
The center is located in the affluent Minneapolis suburb of Minnetonka, MN, and benefits from a dependable consumer base which has household incomes in excess of $125,000. Ridgehaven Shopping Center is positioned in the heart of the Wayzata Boulevard shopping corridor, which is anchored by regionally dominant Ridgedale Mall, home to 1 of the states two Nordstrom locations, and is located approximately 8 miles west of downtown Minneapolis.
Ridgehaven Shopping Center is a generational asset that offers investors the rare opportunity to acquire a core retail asset in an irreplaceable location with significant income security that supports long term tenant performance, retention, and rental rate appreciation.