Mid-America Real Estate – Minnesota, LLC announced today that it has facilitated the acquisition of Northtown Retail Center, a fully leased 10,034-square-foot retail center in the trade area of Blaine, Minnesota. Mid-America Real Estate represented the buyer, Trautz Properties, Inc., which purchased the property from 4^th Dimension Properties for $4.7 million.

Northtown Retail Center, located at 599 Northtown Drive, is a service and daily needs focused retail strip center located on an outlot to the Northtown Regional Mall, a premiere shopping destination in Blaine, Minn., and shadow anchored by a high-performing Cub Foods grocery store.  Additionally, the center is surrounded by several national tenants including Walmart Supercenter, Target, Sam’s Club, Chick-fil-A and many more.

Trautz Properties, Inc. specializes in well positioned, high profile retail centers with quality long term tenants.  Unanchored retail properties like this one have become highly coveted for their resilience since COVID.  Retail real estate in the twin cities and most major markets has thrived, driven by expanding retailers and the lack of new development in the pipeline, resulting in historically low market vacancy.  The Northtown Retail Center is a prime example of the type of investment opportunity sought after in today’s market.

The Mid-America Real Estate team representing the buyer was led by Amy Senn, Mark Robinson, CCIM and Bryce Thompson of our Minnesota Investment Sales Team.  With Marc Mandel and Greg Zimmerman of Forged Real Estate representing the Seller.

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 2023 was $1.2 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.

About Trautz Properties, Inc.

Trautz Properties, Inc. was formed in 2010 by John Trautz, a 37-year veteran of the commercial real estate industry.  The company invests in single tenant and multi-tenant retail properties in the Twin Cities Metropolitan Area. For more information, visit www.trautzproperties.com

Media Contact for More Information:

Suzanne Jones | 952-563-6634 | [email protected]

Photo Courtesy of 4^th Dimension Properties