Mid-America Real Estate – Minnesota, LLC’s Investment Team is pleased to announce the successful sale of Kensington Park Retail, for $6,800,000. The property is a 28,135 SF, three-building retail center located in Richfield, Minnesota, one of the Twin Cities’ most established first-ring suburbs.

Kensington Park Retail features a strong tenant lineup that includes Chipotle, Noodles & Company, Potbelly, and Affinity Credit Union, along with a diverse mix of local and regional retailers. The property benefits from an exceptional history of tenant retention, with over 70% of tenants having operated at the property for more than 10 years, underscoring its stability and long-term performance.

Currently 80.5% occupied, Kensington Park Retail presents an attractive value-add opportunity through the lease-up of remaining vacancies. The property’s favorable weighted average lease term of nearly six years, combined with excellent surrounding demographics, including 125,000 residents and average household incomes exceeding $120,000 within a three-mile radius; further reinforces its strong investment appeal.

“Kensington Park Retail represents the type of stable, well-located neighborhood center that continues to attract investors seeking both security and upside potential,” said Amy Senn, Vice President of Investment Sales at Mid-America Real Estate – Minnesota, LLC. “The combination of long-term national tenants, excellent demographics, and remaining lease-up opportunity made this a compelling transaction in today’s retail market.”

The transaction was brokered by Amy Senn and Bryce Thompson of Mid-America Real Estate – Minnesota, LLC, along with Joe Girardi and Eric Geskermann of Mid-America Real Estate Corporation, who represented the seller in the transaction.

About Mid-America Real Estate

Mid-America Real Estate is #1 in retail real estate services in the Midwest, with full-service offices in Illinois, Michigan, Minnesota and Wisconsin. Our exclusive focus on retail property, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The total consideration value of leasing and investment sales transactions facilitated in 2024 was $2.28 billion. Mid-America leases and manages more than 50 million square feet of retail space and represents over 270 retailers and other tenants. For more information, visit www.midamericagrp.com.

Media Contact for More Information:

Suzanne K. Jones | [email protected]