Tom Gommels Represents Buyer In $1.3M Blaine Strip Center Sale | 12050 Central Avenue Northeast | Tom Gommels | Retail | Sale

Summary

Sale

MINNESOTA

Retail

14,005 sqft

The Blaine Strip Center in Minneapolis, a 14,005-square-foot retail property located at 12050 Central Ave. NE, was sold for $1.3 million. The property traded at an above-market cap rate and features below-market rents.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $1,300,000
Address: 12050 Central Avenue Northeast
Market: Minneapolis
Buyer Representative: Tom Gommels - Marcus & Millichap

Tom Gommels of Marcus & Millichap represented the buyer, who was an individual trust engaging in a 1031 exchange.

Players

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2

Agents
1
Agencies
1

Tom Gommels

Senior Associate

$2.8M Sold

Marcus & Millichap

Details

Deal Summary

SOLD

IMAGE: Tom Gommels DATE: 03/20/2024 ADDRESS: 12050 Central Avenue Northeast MARKET: Minneapolis ASSET TYPE: Retail BROKER: Tom Gommels - Marcus & Millichap SALE PRICE: $1,300,000 SF: 14,005 ~ PPSF: $93 NOTE: Marcus & Millichap brokered the sale of the Blaine Strip Center in Minneapolis for $1.3 million, a 14,005-square-foot retail property located at 12050 Central Ave. NE. Tom Gommels represented the buyer, an individual trust in a 1031 exchange, with the property trading at an above-market cap rate and featuring below-market rents.

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Address12050 Central Avenue Northeast

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