Burnsville Kohl's Building Sold to St. Louis Investment Firm
Bianco Properties bought the department store building for $12.8 million.
A St. Louis company recently made an entrée into the Twin Cities market with a large purchase—in cash. Bianco Properties recently closed a $12.83 million acquisition deal, purchasing the Kohl's-leased retail building at 13900 Aldrich Ave. S in Burnsville. Bianco bought the property from Cole Credit Property Trust III, Inc., an affiliate of Cole Real Estate Investments, in the all-cash sale. According to Dakota County property records, the 102,798 square foot building was built in 1991. As of 2012, the site had a total estimated value $7,235,400, including both the land and the $4,124,200 building. It was last sold in 2008. The Kohl's building is apparently Bianco's first acquisition in Minnesota. “We are excited to be entering the …
Clare Kennedy
2:46 pm on Sunday, January 27, 2013
I'm going to have to make a call tomorrow to be sure (I found out about this after business hours), but I doubt that they'll close a good tenant like Kohl's. The building has changed hands for sure though. more ›