WG Wayzata DST Acquires Retail Property From POMCO LLC In Wayzata For $7.8M

The property asset involved in this transaction is a 15,374-square-foot retail space located at 1055 Wayzata Boulevard, Wayzata, MN, sitting on 1.38 acres. It was sold for $7,800,000, resulting in a price per square foot of $507.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,800,000
• Address: 1055 Wayzata Boulevard
• Market: Wayzata, MN
• Acres: 1.38
• Square Feet: 15,374
• Price Per Square Foot: $507
• Buyer: WG Wayzata DST
• Seller: POMCO LLC

This transaction was facilitated by local investors who purchased the Walgreens property, which is under a 10-year lease generating over $3 million annually. The deal indicates a growing interest from investors and developers seeking redevelopment opportunities in the Lake Minnetonka area.