Veriton Holdings Acquires Retail Strip Mall Portfolio For $72 Million From Trautz Properties And Driessen Group

Veriton Holdings has acquired a retail strip mall portfolio consisting of nine properties for $72 million. This portfolio encompasses a total of 345,000 square feet across various addresses including 12465 Riverdale Boulevard Northwest, 7875 150th Street West, 16501 County Road 30, 9530 Dunkirk Lane North, 4315 Peony Lane North, 3250 Denmark Avenue, 14025 Highway 13 South, 1206 Vermillion Street, and 2111 Coulee Road. The portfolio is situated in the outer-ring suburbs of the Twin Cities, specifically within the markets of Coon Rapids, Apple Valley, Maple Grove, Plymouth, Eagan, Savage, Hastings, MN, and Hudson, WI, and is approximately 97% occupied.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $72,000,000
• Buyer: Cory Villaume - Veriton Holdings
• Seller: John Trautz - Trautz Properties; Vince Driessen - Driessen Group
• Broker: JLL
• Square Footage: 345,000
• Price Per Square Foot: $209
• Locations: Apple Valley, Maple Grove, Coon Rapids, Plymouth, Eagan, Savage, Hastings, MN; Hudson, WI

The transaction features Cory Villaume representing Veriton Holdings, while John Trautz and Vince Driessen represent their respective firms, Trautz Properties and Driessen Group. JLL is the brokerage firm facilitating the transaction. Post-acquisition, Veriton has engaged Mid-America Real Estate for leasing and management of the portfolio.