Minnesota big-box retail sells to investor

Deal hits $120 per square foot

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An unidentified investor has paid $13.6 million for a retail center in St. Cloud, Minn., which represents a price of $120 per square foot. The 113,510-square-foot property, 2nd Street Quad, is located at 400 2nd St. and was sold by an unknown party. Built in 1996, the big-box retail center sits on a 384,093-square foot lot at the intersection of 2nd Street (State Highway 23) and 2nd Avenue South. At the time of sale, the four tenants onsite included PetSmart, Dunham's Discount Sports, Petters Warehouse and Northern Tool & Equipment. ...