Invesco sells Minneapolis-area retail center

Invesco Real Estate has sold Ridgehaven Shopping Center, a fully leased 140,418-square-foot retail center anchored by a high-performing Lunds & Byerlys in the Minneapolis-area suburb of Minnetonka, Minn. The financial terms were not disclosed; however, Bianco Properties acquired the asset.

Ridgehaven Shopping Center is anchored by Lunds & Byerlys, a Minnesota exclusive upscale supermarket with a 40-year operating history at the property, and shadow anchored by Target, which has been at the center since 1997. The tenancy is rounded out by a diverse lineup of national and local tenants, including Barnes & Noble, Ulta Beauty, Rosenthal Furniture Company, Massage Envy and Supercuts.

Situated at 13081 Ridgedale Dr., Ridgehaven Shopping Center is six miles west of downtown Minneapolis in Minnetonka, an award-winning, affluent Minneapolis suburb. This highly visible location is along Interstate 394, which carries approximately 85,135 vehicles per day past the pr