Hanley Investment Group Real Estate Advisors, a leading brokerage and advisory firm specializing in retail property sales, recently facilitated the sale of Edinburgh Festival Centre in Brooklyn Park, Minnesota for $11.9 million. The 91,563-square-foot grocery-anchored shopping center was 96% occupied at the time of sale.
EVPs Bill Asher and Jeff Lefko represented the seller LS Capital Inc., a Los Angeles-based real estate asset management investment firm along with ParaSell Inc. The buyer was a private investor from Northern California.
According to Asher, “We were able to assist the buyer with securing financing from a local bank within a short timeframe despite challenging market conditions in Q4 of 2023.”
The property is located at 8505-8595 Edinburgh Centre Drive and features an anchor tenant – Festival Foods grocery store occupying over half of its space. Other tenants include various food outlets as well as service-based businesses such as medical facilities and goods-based retailers.
For more information on Hanley’s recent transactions or to register for Connect Industrial Midwest taking place on March 5th at Joe’s Live in Rosemont Illinois click here .
