Listen to this articleEditor’s note: “Just Sold” is a Finance & Commerce feature based on the newest certificates of real estate value filed with the Minnesota Department of Revenue for commercial sales throughout Minnesota and reports of sales across the country involving local parties. Research includes company and broker documents, online real estate listings, F&C archives, Catalyst and other research.
After more than three decades, a local private investor has sold the Cedar Cliff Center, a 42,098-square-foot unanchored retail center along Cliff Road in Eagan in two transactions totaling $10.15 million.
Moody’s indicates the longtime ownership entity, CCRE LLC, is related to Brad Schafer a principal in Minneapolis-based Schafer Richardson. The buyer is Northpond Acquisitions LLC, an entity of Northpond Partners, with offices in Chicago and Atlanta.
This is the first Minnesota acquisition for Northpond. It closed Oct. 17 on the off-market purchase of the main center and an outlot building.
The center was built in 1984 on 4.26 acres at 2113-2149 Cliff Road, between Nicols Road and Cedar Avenue (Highway 77). Dakota County assessed the main property in 2024 at $6,467,400, with a current tax bill of $157,722.
Tenants include Caribou Coffee, Jimmy John’s, Cole’s Salon, Bruegger’s Bagels, Pizza Hut, and others. Nearby national retailers include Target, Cub Foods and Trader Joe’s.
Mid-America Real Estate – Minnesota LLC Principal Amy Senn and Investment Associate Bryce Thompson, along with colleagues Joe Girardi and Eric Geskermann, facilitated the transaction.
“We continue to see strong demand for unanchored retail strip centers with solid fundamentals,” Senn said in a written statement. “Cedar Cliff Center is a legacy property that’s been owned by the same partners for more than 30 years — with several long-term tenants that have been part of the center just as long. The stability of the tenancy, the synergy among neighboring retailers, and the prime location in Eagan — one of the Twin Cities’ strongest retail trade areas — are what attracted the buyer to this opportunity.”
Mid-America Real Estate has full-service offices in Illinois, Michigan, Minnesota and Wisconsin. In 2024, it facilitated a total of $2.28 billion in sales and leasing transactions. It leases and manages more than 50 million square feet of retail space and represents over 270 retailers and other tenants.
Place: Cedar Cliff Center, 2113 – 2149 Cliff Road, Eagan
Price: $10.15 million
Buyer: Northpond Acquisitions LLC, Northpond Partners, Chicago
Seller: CCRE LLC, Minneapolis
Date: 10-17-25
An industrial property on 25 acres at 14045 Lake Drive NE in Columbus has sold for $5.5 million in a private, off-market transaction between out-of-state entities.
An entity identified as NM Equip LP and located in New York City closed Oct. 3 on the acquisition from Premiere Real Estate Holdings I LLC in Columbia, Missouri.
The 25-acre property was developed in 2021. It features a one-story, 14,688-square-foot industrial building with four grade-level doors, office and warehouse space, a service bay and a wash bay. It also includes about 4 acres of finished outdoor storage space.
The property first sold in 2022 for $3,875,000.
The seller is related to the tenant, JDR Technologies LLC, based in Mountain Grove, Missouri, according to Moody’s. No information was available on the parties involved and they couldn’t be reached for this story.
Anoka County valued the property in 2024 at $2,618,000, with a current tax bill of $82,981.
Place: 14045 Lake Drive NE, Columbus
Price: $5,497,036; cash; private sale; buyer leased before purchase
Buyer: NM Equip LP, New York, New York
Seller: Premiere Real Estate Holdings I LLC, Columbia, Missouri
Date: 10-3-25
