Phillips Edison & Company Acquires Chaska Commons Retail Center From Sentinel Management And Aurora Investments For $38M
200 Pioneer Trail
$38,000,000
$244/SF
Building Size
155,640 SF
Asset Type
Retail
Closing
Jul 15, 2026
About this deal
AI
Chaska Commons, located at 200 Pioneer Trail in Chaska, Minnesota, is a grocery-anchored retail center that sold for $38 million. The property encompasses 155,640 square feet and is currently 98.3% leased. It is anchored by Cub Foods, which has over 10 years remaining on its lease, and is strategically positioned near Highways 212 and 41.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $38,000,000
- Buyer: Phillips Edison & Company
- Seller: Sentinel Management Company & Aurora Investments LLC
- Broker: Thomas Palmquist - Transwestern
- Square Footage: 155,640
- Price Per Square Foot: $244
- Leased Percentage: 98.3%
- Anchor Tenant: Cub Foods
- Remaining Lease Duration: More than 10 years
This transaction was facilitated by Thomas Palmquist representing Transwestern, demonstrating strong investor interest in the property due to its long-term tenant base and prime location.
Players
Thief River Falls 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93