Amrit Chase Of First Washington Realty Acquires Retail Centers In Blaine, MN For $65M
4355 Pheasant Ridge Drive Northeast & 4365 Pheasant Ridge Drive Northeast
$65,000,000
$94/SF
Building Size
345,493 SF
Asset Type
Retail
Closing
Sep 21, 2026
About this deal
AI
The retail asset involved in the transaction is located at 4355-4365 Pheasant Ridge Drive Northeast in Blaine, MN. The property sold for $65,000,000 and encompasses a total of 345,493 square feet, equating to a price per square foot of $188.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $65,000,000
- Address: 4355-4365 Pheasant Ridge Drive Northeast
- Market: Blaine, MN
- Square Footage: 345,493
- Price per Square Foot: $188
- Buyer: Amrit Chase
- Buyer Representative: First Washington Realty
Amrit Chase represented First Washington Realty in this acquisition, which involved two grocery-anchored shopping centers located in both Minnesota and Missouri. The properties purchased were the Village of Blaine, a 220,685-square-foot center in Blaine, and Liberty Corners, a 124,808-square-foot center in Liberty, anchored by a 56,000-square-foot Cosentino’s Price Chopper.
On the Map
$65,000,000
$94/SF
Retail
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Blaine 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93