Nuveen Acquires Fridley Market From Sterling Organization For $25 Million In Retail Transaction

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.