Nuveen Acquires Fridley Market From Sterling Organization For $25 Million In Retail Transaction
268 Northeast 5th Street
$25,000,000
$188/SF
Building Size
132,600 SF
Asset Type
Retail
Closing
Apr 9, 2026
About this deal
AI
The transaction involves a retail asset located at 250-268 Northeast 5th Street in Fridley, MN. This grocery-anchored retail center encompasses a total area of 132,600 square feet and was sold for a price of $25,000,000, equating to $189 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25,000,000
- Square Footage: 132,600
- Price Per Square Foot: $189
- Buyer: Nuveen
- Seller: Sterling Organization
- Market: Fridley, MN
Nuveen acquired the property from Sterling Organization, indicating a sustained interest in suburban grocery-anchored retail assets. This transaction also marks another instance of collaboration between Nuveen and Sterling within the Twin Cities market.
On the Map
$25,000,000
$188/SF
Retail
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Players
Minneapolis 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93