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Baceline Investments purchased the Central Plaza shopping center at 725 – 925 45th Ave. NE in Minneapolis, MN for $7.04 million, or about $85 per square foot, from Paster Properties.
The neighborhood center, developed in 1957 and renovated in 1985, is composed of two buildings totaling 82,478 square feet. It was 94 percent occupied at the time of sale.
Tim Prinsen, Bob Pounds and Amy Senn of Colliers International represented the seller. The buyer handled the sale in-house.
Please see CoStar COMPS #3981507 for more information on this transaction.
