The long-vacant Sears store located at 425 Rice Street in St. Paul, Minnesota has been sold for $7 million. The buyers, including Marshall Nguyen of Windfall Group, plan to transform the property through an adaptive reuse project. The concrete plans for the property are yet to be determined. The buyers were attracted to the property's location in a high-traffic area near Interstate 94.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,000,000
• Date: 05/19/2023
• Market: Saint Paul, Minnesota
• Buyer: Marshall Nguyen; Windfall Group - Eddie Ni
• Seller: Seritage Growth Properties
• Brokers: Andrew Jacobs & Andrew Heieie - Colliers

Eddie Ni of Windfall Group, along with Marshall Nguyen, played a key role in the acquisition of the long-vacant Sears store. Seritage Growth Properties acted as the seller in the transaction. The buyers were enticed by the property's location in a high-traffic area near Interstate 94, which holds potential for future development and returns on investment.