Daily limit: 0/10
Enclave Cos Acquires Development Site At 7235 France Avenue Edina For $18 Million
SOLD
$18,000,000
Minnesota
See Similar DealsDevelopment Site
Sold
SOLD
Enclave Cos Acquires Development Site At 7235 France Avenue Edina For $18 Million
7235 France Avenue South
See Similar DealsDevelopment Site
Sold
Summary
MINNESOTA
Asset Type:Development Site
Transaction Type:Sale
The development site at 7235 France Avenue in Edina, MN has been sold for a total price of $18 million. The property previously housed Macy’s Furniture store and is now set for redevelopment. The developer, Enclave Cos, has plans to construct a mixed-use project consisting of 523 apartments, 49 condominiums, 21,300 square feet of retail and restaurant space, along with 68,000 square feet of office space.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Address: 7235 France Avenue
- Market: Edina, MN
- Buyer: Enclave Cos
The sale involved Enclave Cos acquiring the former store from Macy’s. This deal sets the stage for significant redevelopment in the area, emphasizing the shift in use from retail to a mixed-use environment that includes residential, commercial and office spaces.
Players
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
Is there something missing? Send suggestions