{"id":595,"date":"2021-09-03T09:17:56","date_gmt":"2021-09-03T09:17:56","guid":{"rendered":"https:\/\/simekpg.com\/?p=595"},"modified":"2021-10-11T09:18:37","modified_gmt":"2021-10-11T09:18:37","slug":"simek-property-group-continues-to-grow-their-retail-presence-with-purchase-of-riverdale-market-in-coon-rapids","status":"publish","type":"post","link":"https:\/\/simekpg.com\/simek-property-group-continues-to-grow-their-retail-presence-with-purchase-of-riverdale-market-in-coon-rapids\/","title":{"rendered":"Simek Property Group Continues to Grow Their Retail Presence with Purchase of Riverdale Market in Coon Rapids"},"content":{"rendered":"<p>St. Paul, MN, September 3, 2021 \u2013 Simek Property Group purchased Riverdale Market for $4,450,000 in an off-market deal as part of a 1031 Exchange. The 18,102 square foot retail center built in 2006 is located at 2740 Main Street NW in Coon Rapids. The property has 10 retail spaces and is currently 94% occupied. Some of the current national tenants include Subway, Verizon Wireless, State Farm Insurance, and Enterprise Rent-A-Car.<\/p>\n<p>\u201cWe\u2019ve been strategically diversifying our assets this year and are pleased to be adding this quality retail center to our portfolio,\u201d said Stuart Simek, President and Owner of Simek Property Group. \u201cRiverdale Market has excellent visibility in a high traffic area, and most of the tenants have been in their spaces for over 10 years.\u201d<\/p>\n<p>Riverdale Market is shadow anchored by one of the busiest Lowes in the Midwest. The property is located on a high visibility corner of Highway 242 (31,500 vehicles per day) and Highway 10 (76,000 vehicles per day). Atlas Commercial Real Estate is the exclusive leasing agent for the property and Mid-America is the property manager.<\/p>\n<p><strong>About Simek Property Group.<\/strong> Simek Property Group has been involved in the commercial real estate investment business since 1995. Investment projects have included multi-family, office, and retail. Development projects have included townhomes, retail, and condo conversions. They own more than 350 apartment units and 100,000 square feet of retail and industrial throughout the Minneapolis-St. Paul area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>St. Paul, MN, September 3, 2021 \u2013 Simek Property Group purchased Riverdale Market for $4,450,000 in an off-market deal as part of a 1031 Exchange. 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