{"id":1004134062,"date":"2015-12-22T07:13:52","date_gmt":"2015-12-22T15:13:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134062"},"modified":"2020-05-14T01:08:04","modified_gmt":"2020-05-14T09:08:04","slug":"marcus-millichap-seals-minnetonka-retail-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-seals-minnetonka-retail-deal\/","title":{"rendered":"Marcus &#038; Millichap Seals Minnetonka Retail Deal"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004134065\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004134065\" data-attachment-id=\"1004134065\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-seals-minnetonka-retail-deal\/capture2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg\" data-orig-size=\"1487,551\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Ioana Neamt&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1450787708&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Capture2\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg?w=1024\" class=\"wp-image-1004134065 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg\" alt=\"Glen Haven Center, Minnetonka, Minn.\" width=\"300\" height=\"111\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg 1487w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg?resize=300,111 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg?resize=768,285 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Capture2.jpg?resize=1024,379 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004134065\" class=\"wp-caption-text\">Glen Haven Center, Minnetonka, Minn.<\/p><\/div>\n<p><strong>Minnetonka, Minn.<\/strong>\u2014The 38,096-square-foot Glen Haven Shopping Center in Hennepin County has recently changed hands for $6.2 million, in a deal secured by <a href=\"https:\/\/www.marcusmillichap.com\/\" rel=\"nofollow\" target=\"_blank\">Marcus &amp; Millichap<\/a>.<\/p>\n<p>Sean Doyle, Cory Villaume, Matthew Hazelton, Adam Prins and Brian Klancke\u2014investment specialists in the firm\u2019s Minneapolis office\u2014collaborated with two separate outside brokerages to secure the deal. The seller, local real estate developer Tom Wartman, sold the asset to a limited liability company.<\/p>\n<p>Glen Haven is located at 14400 Excelsior Blvd. in Minnetonka, roughly 14 miles from the city of Minneapolis.<\/p>\n<p>\u201cThe property was 100 percent occupied at the time of sale. The recent addition of Lunds &amp; Byerlys as the grocery operator lead to the increased level of interest from the market,\u201d said Doyle in a statement. \u201cGlen Haven is an excellent indicator that the market is still strong for quality retail property investments in the Twin Cities.\u201d<\/p>\n<p>According to Marcus &amp; Millichap\u2019s most recent retail market report, the rapid growth in high-paying tech jobs in the region has led to a surge in the number of households and an increase in consumer spending, thus attracting retailers to the market. A total of 800,000 square feet of retail space are expected to come online in the Twin Cities area by the end of 2015.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A retail center in suburban Minneapolis has recently changed hands with the help of Marcus &#038; Millichap.<\/p>\n","protected":false},"author":192,"featured_media":1004134065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,13,36076,21742,21749],"tags":[],"class_list":["post-1004134062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midwest","category-minneapolis-st-paul","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Marcus &amp; 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