NEW OWNERS FOR MINNEAPOLIS KOHL’S DEPARTMENT STORE

Minneapolis (Jan 08, 2013) – St. Louis based Bianco Properties announced today it has acquired the property leased to Kohl’s Department Store in Burnsville, Minnesota, a suburb of Minneapolis-Saint Paul. The acquisition of the 102,412 square foot freestanding retail building in Burnsville’s dominant retail corridor marks Bianco’s entry into the market. The property was purchased in an all-cash transaction from an affiliate of Cole Real Estate Investments, with CB Richard Ellis representing the seller.

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“We are excited to be entering the Burnsville/Minneapolis market and are looking forward to growing our real estate holdings throughout the region,” said Dan Wolk, Senior Vice President with Bianco Properties. “This property is a great entry for us. It is located in a prime retail trade area near Burnsville Center Mall, Target and Costco, with access to Interstate 35. Our primary focus is retail and industrial investment opportunities and we will continue to look closely at Minneapolis to expand our presence in the market,” Wolk added.

Bianco Properties has acquired 7 retail properties in the last 24 months, valued at more than $60,000,000.