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Oct

03

Baceline Acquires 2 Shopping Assets for $12M

By Tony Seruga

The company acquired its first North Carolina shopping center when it acquired Galleria Village, which is currently 83 percent leased to various tenants. The company also bought Central Plaza in Minnesota, another shopping center, that is currently 92 percent occupied.

Denver-based private equity real estate investment firm Baceline Investments acquired the Columbia Heights, Minn.-based Central Plaza for $7.2 million from Central Plaza Associates, and the North Carolina-based Galleria Village from Cohen Equities for $5.1 million. This marks the company’s first purchase in North Carolina.

MULTI-TENANT SHOPPING CENTERS

Located at 875 NE 45^th Ave., Central Plaza features 82,478 square feet. The shopping center is in close proximity to downtown Minneapolis and is currently 92 percent occupied. McKenna Park, La Belle Park, Columbia Heights City Hall, and Central Middle School are also nearby…

Baceline Acquires 2 Shopping Assets for $12M

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