Just Sold: Brooklyn Park retail draws $5.23M.

Byline: Anne Bretts

Editor's note: "Just Sold" is a Finance & Commerce feature based on the newest certificates of real estate value filed with the Minnesota Department of Revenue for commercial sales throughout Minnesota and reports of sales across the country involving local parties. Research includes company and broker documents, online real estate listings, F&C archives, Catylist and other research.

Shingle Creek Center, a neighborhood retail center in Brooklyn Center, has sold to a local buyer for $5.23 million.

Brooklyns Cultural Village in Brooklyn Park closed Oct. 13 on the acquisition from BPC Shingle Creek Holdings LLC in Encino, California. The seller paid $5.93 million in 2017.

The 8,269-square-foot center was built in 1986 on 1.6 acres on an out lot at 6000-6050 Shingle Creek Parkway. Tenants include Lady Nails, H&R Block and State Farm. The building is part of a shopping area anchored by a vacant Target store that's now owned by the city and is being considered for demolition and redevelopment.

Place: 6000-6050 Shingle Creek Parkway, Brooklyn Park

Price: $5.23 million; $395,000 down payment; new mortgage; 1031 exchange

Buyer: Brooklyns Cultural Village, Brooklyn Center

Seller: BPC Shingle Creek Holdings LLC, Encino, California

Date: 10-13-23

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