NorthMarq Investment Services Announces Sale of Victor Marketplace
MINNEAPOLIS (April 17, 2008) — NorthMarq Investment Services announced today the sale of Victor Marketplace, a 70,000-square-foot retail center located at 14775 Victor Hugo Blvd. in Hugo, Minn. The retail center was bought by Victor Hugo Boulevard, LLC, for an undisclosed price.
Victor Marketplace is anchored by a 55,000-square-foot Festival Foods grocery store and is currently 100 percent leased. NorthMarq Investment Services team of Eric Bjelland and Leah Truax represented the seller.
“The completion of this sale recognizes that quality retail-anchored properties with a strong income stream remain of significant interest to investors,” said Eric Bjelland, vice president of investment services, NorthMarq. “There is still capital in the marketplace despite concern about credit and financing, and we are optimistic regarding the long-term outlook for the market.”
Eric Bjelland
Leah Truax
About NorthMarq
NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. Its Capital Markets group offers commercial real estate investment banking, investment services, real estate debt and equity financing, and commercial loan servicing in 29 offices coast-to-coast. NorthMarq Capital provides more than $13 billion in annual production volume and services a loan portfolio of more than $36 billion. NorthMarq Real Estate Services provides brokerage, property management, healthcare services and construction to investors and space users in the Minneapolis market. NorthMarq Corporate Solutions works nationally with mid-sized corporate users to manage their real estate needs. For more information, please visit corporatesolutions.northmarq.com.