Mid-America Real Estate Group Closes $8.7 Million Sale of Burnsville Crossing Retail Center in Minnesota
BURNSVILLE, MN — Mid-America Real Estate – Minnesota, LLC has completed the $8.7 million sale of Burnsville Crossing, a 90,915-square-foot multi-tenant retail center located at 14270 Plymouth Avenue in Burnsville, Minnesota. The property was fully occupied at the time of closing, with seller Manna Capital exiting the asset and Burnsville Crossing Center, LLC acquiring it as a value-add opportunity.
Deal Details: Manna Capital Exits, Burnsville Crossing Center Acquires
The transaction brought together two local retail investors. Manna Capital, represented by Ryan Hank, successfully executed its business plan through the disposition. Eric Zehnder, through Burnsville Crossing Center, LLC, acquired the property with the stated objective of creating additional value under new ownership.
The sale price of $8.7 million equates to approximately $95.75 per square foot based on the property's 90,915-square-foot gross leasable area. The center sits on roughly 10 acres at the intersection of County Road 42 and Plymouth Avenue, within Burnsville's established regional retail trade area — a corridor that encompasses approximately 1.6 million square feet of retail space and carries a vacancy rate of approximately 3%.
The property was exclusively marketed by Amy Senn of Mid-America Real Estate – Minnesota, LLC and Joe Girardi of Mid-America Real Estate Corporation. Sam Steadman of RE/MAX Results collaborated on the transaction.
"We are pleased to have represented Manna Capital in the successful sale of Burnsville Crossing," said Amy Senn. "The property's strong occupancy, strategic location and significant upside made it an attractive investment opportunity, and we are excited to see the next chapter of the property under its new ownership."
Property Profile: Burnsville Crossing's Tenant Mix and Location
Burnsville Crossing, built in 1988, features a diverse mix of established local and regional retailers. Anchor tenants include Furniture Mart and Big Air Trampoline Park, with additional tenants comprising CosmoProf, TC Running Company, Miracle-Ear, and other retailers. The center's blend of furniture, fitness, health, and specialty retail reflects a necessity- and experience-oriented tenant base that has supported consistent occupancy.
The property's position within Burnsville's primary retail trade area — near the Burnsville Center regional mall along the County Road 42 corridor — places it in one of the Twin Cities' more active suburban retail submarkets. The surrounding trade area's approximately 3% vacancy rate is well below national benchmarks for open-air retail centers, which have hovered in the 4.5% to 5.0% range through mid-2026.
The fully leased status at closing provided the buyer with stable in-place cash flow, while the value-add investment strategy signals expectations for upside over the hold period.
Pricing in Market Context
The $8.7 million closing price reflects meaningful appreciation from a prior trade of the Burnsville Crossing complex. In April 2024, the property — then measured at approximately 97,210 square feet across 14240–14290 Plymouth Avenue — sold for $7,025,000, or roughly $72.27 per square foot. The 2026 closing at approximately $95.75 per square foot represents a gain of more than 30% in per-square-foot pricing over roughly two and a half years, underscoring the strength of investor demand for stabilized suburban retail in the Twin Cities.
National retail capital markets data for 2025–2026 show aggregate retail cap rates near 6.8%, with open-air centers — particularly grocery-anchored and community centers — attracting significant capital amid constrained new supply. Retail construction completions are forecast at a record-low approximately 30 million square feet for 2026, a dynamic that has supported pricing for well-located, occupied assets like Burnsville Crossing. Given the center's full occupancy and suburban Twin Cities location, the property likely traded in the mid-6% to low-7% capitalization rate range, consistent with current market conditions for comparable open-air retail assets.
About Mid-America Real Estate Group
Mid-America Real Estate Group focuses exclusively on retail real estate services across the Midwest, with full-service offices in Illinois, Michigan, Minnesota, and Wisconsin. The firm leases and manages more than 50 million square feet of retail space and represents more than 270 retailers and tenants. The total consideration value of leasing and investment sales transactions facilitated in 2025 was $2.6 billion.
Sources: Mid-America Real Estate – Minnesota Announces Sale of Burnsville Crossing