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Calhoun Square Sells For $30M

MINNEAPOLIS-Ray Harris agrees to sell the classic urban retail center, developed 28 years ago in the Uptown neighborhood, to Cincinnati-based North American Properties.

By Jim McCartney | Updated on March 07, 2004

MINNEAPOLIS-A deal to sell Calhoun Square to North American Properties was unveiled Friday, and it’s expected to close in 75 days. Ray Harris, who owns Calhoun Square with partners Doug and Martha Head, says he was impressed with North American’s “combination of expertise with urban, mixed-use projects, as well as their national scope and long-term family ownership.” The property was sold for an estimated $30 million.

North American Properties is a privately held company that develops, owns and manages a diverse portfolio of retail, office and residential properties across the US. Headquartered in Cincinnati, the company was founded 50 years ago, and has offices in Atlanta, Dallas, Fort Meyers and Minneapolis.

North American Properties has developed more than 17 million sf of retail space, two million sf of office space and more than 14,000 residential units. The company currently has more than 4.6 million sf of retail space under development valued in excess of $500 million.

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