The community's new city hall and the site of a future Maple Grove Library are also located on Main Street not far from the Arbor Lakes project. The center, which sits on 30 acres that are included in the sale, is 100% leased by more than 50 retail stores and restaurants including national retailers such as Best Buy and Babies R Us, an upscale supermarket called Byerly's, and well-known restaurants such as Houlihans, Bucca, Ground Round, The Olive Garden, Red Lobster and Timberlodge Steakhouse.

Neither Kimco, the nation's largest owner of neighborhood and community shopping centers, nor Opus would disclose the purchase price, but the property has an estimated market value of $26 million, according to county property tax records.

In a related development, Opus also announced the groundbreaking of two additional Arbor lakes Main Street buildings totaling 43,000 sf. This next phase of Arbor Lakes -- not part of the sale to Kimco -- is 70% pre-leased and will include tenants such as Ann Taylor, CJ Banks, Christopher & Banks, Quizno's, Great Harvest Bread, and Claddagh, a 6,000-sf Irish pub. This second phase is expected to be ready in the spring of next year. Welsh Cos., a largecommercial real estate company based in Eden Prairie, MN, is Opus' leasing agent on the project.