A Hy-Vee holiday present

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Ryan Companies has sold their Hy-Vee project in Brooklyn Park for $24.1 million on December 23rd.    They purchased the 16.3 acre site in 2015 for $3.38 million, and developed the 103,882 sf project for a 96,000 sf Hy-Vee supermarket and the adjacent gas station.  This store opened earlier in 2016, and is one of five existing stores that have opened in the Twin Cities.  It leases their newly opened store in Eagan at Central Park Commons, but owns their locations in New Hope, Oakdale and Lakeville.  Skip Melin of Cushman & Wakefield NorthMarq was recently quoted in Finance and Commerce, stating “Hy-Vee typically likes to own as opposed to lease.   It’s great for the Twin Cities that grocery-anchored centers are still trading at a premium, and trading quickly.” 

 The buyer was Hurd Real Estate out of West Des Moines, IA, a company that specializes in retail across the country, including ownership of 19 Hy-Vee leased properties in the Midwest. 

 

Those HyVees . . . they just keep coming!

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With Eagan now open, that brings the current count to five stores, including New Hope, Oakdale, Lakeville, and Brooklyn Park.  Six sites that are either in construction or in planning include Cottage Grove, Robbinsdale, Maple Grove – two sites including 101 & 10, and Maple Grove Parkway, Savage and now Farmington.   Whew!

 

New Cub Foods Opens in Oakdale Today

Cub Foods opens their relocated store at Bergen Plaza in Oakdale today.   This corporate store is over 70,000 sf, and showcases upgraded perishables along with full service deli, meat and seafood departments.  New offerings added to this store include bulk honey and olive oil bars.  It was also just announced that the Big Thrill Factory is going to go in to the former Cub Foods location.  Big Thrill currently has a successful store at Hwys. 101 and 7 in Minnetonka that opened 3 years ago. 

Cub has been aggressive with their new store growth, with a corporate store opening in White Bear Lake last December and a new location now under construction in Blaine west.

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