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SOURCE: CSM Corporation
New agreements bring three Minnetonka retail centers to 97% occupancy.
Minneapolis, MN (PRWEB) October 13, 2012
Exceeding an already tight Minnetonka retail occupancy rate, CSM Corporation announces two recent transactions bringing new merchants to the Sports Authority Plaza.
After 18 months of vacancy in the former 15,000 sq.ft. site of Ultimate Electronics, CSM secured a lease with the West Marine boating goods retailer. The Minnetonka location will be a new flagship store for Minnesota and one of the retailer's largest concepts in the Midwest. West Marine is relocating from its current 4,000 sq.ft. site on the south side of 394 and initiated the search with CSM for a new location just over 28 months ago. This represents the only West Marine deal completed this year that was not on the East or West coasts.
Also coming to the Sports Authority Plaza is Viverant, leasing 5,196 sq.ft. of the former Ethan Allan space. Viverant is a new health and wellness concept focused on physical therapy, strength training and coaching. This will be the fifth location for the company.
"The center is well-located along the I-394 corridor in the Ridgedale trade area. We received numerous inquiries from value-priced retailers and elected to wait for the right tenants to match the high household income demographics of Minnetonka," stated Paul Sevenich, CSM Vice President of Commercial Leasing. "With both leases, CSM has absorbed a total of 20,196 sq. ft. at the Plaza, leaving less than 4500 sq. ft. available. Between our three shopping centers: Sports Authority Plaza, Bonaventure and Westridge Market in Minnetonka; our space is now 97.54% leased and represents 415,705 sq. ft."
About CSM Corporation
CSM Corporation engages in the acquisition, development, leasing, management, and ownership of quality real estate assets. Founded in 1976 and headquartered in Minneapolis, Minn, CSM’s extensive portfolio includes retail, industrial, multi-family residential, and hotel properties across the continental United States. For more information visit http://www.csmcorp.net.
About West Marine
West Marine is a boating goods retailer with over 300 stores in the US, Puerto Rico, and Canada and serves over 150 countries worldwide through mail order and online sales which can be found at http://www.westmarine.com.
Viverant has four locations in St. Louis Park, Lakeville, Vadnais Heights, and White Bear Lake. Learn more at http://www.viverant.com.
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