Chicago TREND Acquires Retail Property At 1010-1030 West Broadway Avenue For $9M From Sherman Associates
1010 West Broadway Avenue & 1030 West Broadway Avenue
$9,000,000
$87/SF
Building Size
51,459 SF
Asset Type
Retail
Closing
Sep 28, 2026
About this deal
AI
The transaction involves a retail property located at 1010-1030 West Broadway Avenue in Minneapolis, MN. The asset, known as Hawthorn Crossings Shopping Center, was sold for $9,000,000. The total square footage of the property is 51,459, which equates to a price per square foot of $175.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Buyer: Chicago TREND
- Seller: Sherman Associates
- Square Footage: 51,459
- Price Per Square Foot: $175
- Market: Minneapolis, MN
Chicago TREND completed the acquisition from Sherman Associates Commercial Properties, which involves 97 local co-owners. Tenants of the property include McDonald’s, O’Reilly Auto Parts, U.S. Bank, and community medical services. Future plans for the site include upgrades, new leasing opportunities, and a potential mixed-use development.
On the Map
$9,000,000
$87/SF
Retail
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Players
Avenue Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93