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:
- Property Type: Retail
- Transaction Amount: $7,025,000
- Acres: 10.3
- Market: Burnsville, Minnesota
- Buyer: HBI Cos.
- Seller: IRC Retail Centers LLC
- Brokers: Amy Senn & Joe Girardi - Mid-America Real Estate Group
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
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