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Nuveen Acquires Fridley Market From Sterling Organization For $25 Million In Retail Transaction
SOLD
$25,000,000
Minnesota
See Similar DealsRetail132,600 SF
Sold 04/09/2026
SOLD
Nuveen Acquires Fridley Market From Sterling Organization For $25 Million In Retail Transaction
268 Northeast 5th Street
See Similar DealsRetail132,600 SF
Sold 04/09/2026
Summary
MINNESOTA
Asset Type:Retail
Price Per Square Foot:$188
Total Square Footage:132,600 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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