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Toronto-based Slate Retail REIT acquired the Mapleridge Shopping Center at 2500 and 2501-2515 N. White Bear Ave. in Maplewood, MN for $13.4 million, or about $117 per square foot, from StarPoint Properties LLC.
The 114,681-square-foot shopping center was 89 percent occupied at the time of sale, anchored by Rainbow Foods. It was buitl in 1986 on 22 acres in Ramsey County and was renovated in 2006.
James Leary and Angela Demonte of CBRE represented the seller. The buyer handled the sale in-house.
Please see CoStar COMPS #3974177 for more information on this transaction.
