Kraus-Anderson Realty buys 324,430-square-foot Midway Marketplace

March 28, 2019

SAINT PAUL, Minn. (March 27, 2019) – Kraus-Anderson Realty today announced it has purchased Midway Marketplace located at University and Hamline Avenues in St. Paul. KA Realty bought the property from Beachwood, Ohio-based RVI.

Built in 1994, the 324,430-square-foot center features a lineup of national and regional anchors and tenants, including Walmart, Cub Foods, TJ Maxx, LA Fitness and Dollar Tree. Other tenants include Sprint, Leeann Chin, The UPS Store, Mother Nature’s Vitamins and Midway Tobacco & Cigar Place.

Midway Marketplace complements Kraus-Anderson’s strategic plan, which includes consistent growth through development and acquisitions of its already substantial and diverse real estate portfolio.

“Midway Marketplace is located in a dense, established market and regional retail hub surrounded by the new soccer stadium as well as six major colleges and universities between Minneapolis and St. Paul.” said Jeff Hildahl, senior vice president of properties and leasing for Kraus-Anderson Realty. “The acquisition augments our growing portfolio of retail, office, industrial, healthcare, residential and senior housing. With its tremendous location and strong tenant mix, we expect this property to be a great asset for a long time to come.”

Midway Marketplace is strategically located next to the Snelling Midway Redevelopment Project, featuring Allianz Field, home of the Minnesota United Football Club. In addition to the new soccer facility, redevelopment plans include the addition of office, retail, residential, hotel and other civic improvements that will create a live/work/play environment that will revitalize the area and draw patrons from throughout the Twin Cities.

About Kraus-Anderson Realty

Kraus-Anderson Realty Company leases and manages more than 5 million square feet of commercial property, including office, industrial and retail shopping centers; maintaining an occupancy level of more than 90 percent. Kraus-Anderson Realty is part of the Minneapolis-based Kraus-Anderson family of companies, including commercial, construction, insurance and real estate management and development.