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14240 Plymouth Avenue

HBI Cos. Acquires Burnsville Retail Center From IRC Retail Centers For $7.025M
SOLDRetail

HBI Cos. Acquires Burnsville Retail Center From IRC Retail Centers For $7.025M

14240 Plymouth Avenue

$7,025,000

$72/SF

Building Size

97,210 SF

Asset Type

Retail

Closing

Apr 9, 2024

AI

Burnsville Crossing, a 97,210-square-foot retail center located near Burnsville Center, has been sold for $7.025 million. The property, situated at 14240-14290 Plymouth Avenue in Burnsville, Minnesota, features Becker Furniture World and PetSmart as anchor tenants.

Summary of transaction details:

The acquisition of Burnsville Crossing was facilitated by HBI Cos., which purchased the property from IRC Retail Centers LLC through the representation of brokers Amy Senn and Joe Girardi from Mid-America Real Estate Group.

Players

Joe Girardi

Mid-America Real Estate Group

Broker

$398.6M

vol

14 deals

Broker

Burnsville 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

2.26%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93