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CBRE <br />MARK ETV IEW MINNEAPOLIS/ST. PAUL RETAIL <br />Figure 5: Transaction Volume — Previous Five Years <br />(S - millions) <br />800 <br />700 <br />600 <br />500 <br />400 <br />300 <br />200 <br />100 <br />1111111111 <br />HI 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 <br />Source: CBRE Research, H1 2021. <br />INVESTMENT SALES <br />Investment activity picked up slightly in H1 2021 <br />over H2 2020, and grocery -anchored centers <br />topped the list of transactions. Chanhassen West <br />Village Center, anchored by Lunds & Byerlys, sold <br />for $24.0 million, and the Cub Foods -anchored <br />Champlin Marketplace sold for $15.5 million. <br />Smaller multitenant properties with a quality mix <br />of grab -and go restaurants and essential <br />businesses continued to be popular, including <br />1840 E 66th St in Richfield, which sold for $455 per <br />sq. ft. <br />Figure 6: Largest Property Sales Transactions by Price <br />Single -tenant net leased properties, large and <br />small, continued to attract investor interest, <br />notably the $14.0 million acquisition of Mills Fleet <br />Farm, as well as properties occupied by discount <br />retailers, pharmacies and automotive stores. <br />Other centers were sold for redevelopment, some <br />as retail and some as other uses. The former Sam's <br />Club at 3745 Louisiana Avenue was sold to Loffler <br />to become its headquarters and distribution hub, <br />and the former Gander Mountain in Eden Prairie <br />was purchased for $7.2 million for redevelopment <br />to a multitenant grocery anchored Asian retail <br />plaza. <br />Property Name Buyer <br />Price ($) Total Sq. Ft. City <br />Chanhassen West Village Center <br />Phillips Edison & Co <br />24,800,000 <br />137,572 <br />Chanhassen <br />Champlin Marketplace <br />Brixmor <br />15,500,000 <br />88,577 <br />Champlin <br />Mills Fleet Farm Northpointe Cambridge LLC <br />14,000,000 174,178 Cambridge <br />Former Sam's Club Louisiana Crossing LLC <br />9,100,000 150,637 St. Louis Park <br />Former Gander Mountain Asian Plaza Properly LLC <br />7,200,000 64,388 Eden Prairie <br />Source: CBRE Research, Real Capital Analytics, H1 2021. <br />H1 2021 CBRE Research <br />© 2021 CBRE, Inc. 3 <br />