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Mound Maketplace sold to California investor for $7.6 million

The Mound Marketplace has been sold for $7.6 million.
The Mound Marketplace has been sold for $7.6 million.
CBRE

The owner of the grocery-anchored Mound Marketplace has sold the property to a California investment firm making a third Twin Cities-area buy, CBRE’s Minneapolis Private Capital Group announced Monday.

Developer PBK Investments of Minnetonka, Minn., sold the 57,642-square-foot retail property to LS Capital of Sherman Oaks, Calif., CBRE said in an issued statement.

The sale price was $7.55 million, according to Hennepin County records.

The 11-year-old mall, situated at the corner of Lynwood and Commerce boulevards in Mound, is anchored by Jubilee Foods and also includes tenants Verizon, Great Clips, Subway and Carbone's Pizza.

LS Capital also owns Rogers Retail Plaza in Rogers, Minn., and Winnetka Commons in New Hope.

PBK Investments was represented by Jim Leary, Steve Lysen, Jeff Budish and Mindy Rietz in the transaction.