Minneapolis (February 12, 2020) – St. Louis-based Bianco Properties announced it has acquired Park Place Plaza at West End in St. Louis, Park, Minnesota.  The 87,975 square foot center is shadow anchored by Costco and Home Depot, and is located in the southwest quadrant of I-394 and Highway 100 at the intersection of Park Place Boulevard and 16th Street West.  This marks Bianco’s fifth retail acquisition within the last three years collectively valued at over $90,000,000. Park Place Plaza is their second in the Minneapolis-St. Paul MSA joining a 100,000 sf Kohl’s-occupied retail property in Burnsville, MN.

“Minneapolis is a key market we have continued to target for strategic expansion of our retail portfolio,” said Josh Bacott, Vice President of Acquisitions & Property Management with Bianco Properties. “We believe that Park Place is a cornerstone property that is well-positioned to serve the vibrant and growing St. Louis Park neighborhood.”

“Park Place Plaza is a 100% occupied neighborhood retail center located in one of Minneapolis-St. Paul’s most desirable submarkets, The West End. Shadow anchored by the market’s top-performing Costco and a vibrant Home Depot, the property is positioned ideally in a submarket with exploding residential and office growth, furthering intense density and massive daytime population,” said Bob Pounds of NGKF representing the Seller in the transaction.