Contrarian Properties & Spinoso Real Estate Group Acquire Crossroads Center For $79.87M

The Crossroads Center in St. Cloud, Minnesota, has been acquired by Contrarian Properties and Spinoso Real Estate Group for nearly $80 million. The mall, spanning almost 900,000 square feet, is home to major retailers like J.C. Penny, Macy’s, and Scheels, with Target owning its connected location. The sale price equated to approximately $89 per square foot for the property located at 4101 Division Street.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $79,867,741
• Buyer: Contrarian Properties; Carmen Spinoso - Spinoso Real Estate Group
• Seller: Trigild
• Broker: Matt Hazelton - JLL
• Market: St. Cloud, Minnesota
• Address: 4101 Division Street
• Square Footage: 900,000

Contrarian Properties and Spinoso Real Estate Group jointly acquired the Crossroads Center in St. Cloud after Trigild took over as receiver in January, replacing Brookfield Properties. The aim of Contrarian and Spinoso is to revitalize the mall, making it a premier shopping and entertainment destination in the St. Cloud area through various management and marketing efforts.