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First Allied Pays $13M for Town Square

EDEN PRAIRIE, MN-The 70,000-sf retail center was repositioned by M&J Wilkow, which owns and manages Crossroads of Roseville Shopping Center in Roseville and is looking for other buys in the Twin Cities.

By Jim McCartney | Updated on October 03, 2004

EDEN PRAIRIE, MN-First Allied Corp. has bought Tower Square Shopping Center, located adjacent to the Eden Prairie Shopping Mall at the intersection of Highway 212 and Prairie Center Drive, for about $13 million. Tower Square is a 70,000-sf property that includes tenants such as Starbuck’s, Quizno’s, Wolf Camera, Pier 1 Imports and Cold Stone Creamery.

“We have had our eye on the Twin Cities for a while,” says Edward Glazer, executive vice president at First Allied. Glazer adds the center was attractive due to its “great lineup of tenants, a busy intersection and strong demographics.”

The seller was Chicago-based M&J Wilkow, a real estate investment partnership. Wilkow says the sale follows its “repositioning efforts designed to increase tenant quality and occupancy at the center.”

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