KPR Centers Acquires Shoppes At Knollwood In St. Louis Park For $85.25M From Heitman Capital Management

The retail asset involved in this transaction is located at 8100 Highway 7 in St. Louis Park, MN. The property has a total square footage of 450,134 and was sold for $85,250,000, equating to a price per square foot of $189.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $85,250,000
• Buyer: Daniel Katz & Daniel Kaufthal - KPR Centers
• Seller: Maury R. Tognarelli - Heitman Capital Management
• Broker: Matt Hazelton - JLL
• Year of Seller's Initial Purchase: 2015
• Initial Purchase Amount by Seller: $106,700,000
• Vacancy Rate Post-Kohl's Lease Exit: 20%

The deal involved key individuals and companies where Daniel Katz and Daniel Kaufthal represented the buyer, KPR Centers, while Maury R. Tognarelli represented the seller, Heitman Capital Management. Broker Matt Hazelton from JLL facilitated the transaction, as market dynamics and a significant vacancy were influential factors in the price adjustment.