Minnesota (December 14, 2021) – Less than one month after acquiring North Garland Crossing in Dallas, TX, St. Louis-based Bianco Properties announced it has purchased Ridgehaven Shopping Center located in the desirable Minneapolis suburb of Minnetonka. Ridgehaven marks the fourth retail acquisition for Bianco over the past two years totaling 415,000 square feet and collectively valued at over $116,000,000, each of which is anchored by dominant regional retailers such as Costco, Target and The Home Depot. The acquisitions are part of an ongoing strategy by the company targeting highly trafficked, stabilized assets located in dense commercial corridors.

“As the retail industry continues to evolve, it’s not a surprise to see brands like Target and Costco strengthen their position at the top of the food chain,” said Josh Bacott, VP of Acquisitions for Bianco. “When the anchor of a property is attracting upwards of 200,000 shoppers every month, complimentary retailers of all types want to feed off that traffic and we see properties like Ridgehaven and North Garland Crossing as unique opportunities to capitalize on the demand.”

The 140,418 square foot Ridgehaven Shopping Center is strategically positioned at the intersection of I-394 and Plymouth Rd with exposure to over 110,000 vehicles per day and, in addition to Target, features Lunds & Byerlys grocery, Barnes & Noble and Ulta as tenants. Collectively, the property saw more than 2.5 million customer visits in 2021 according to

“Ridgehaven is positioned in the heart of one of Minneapolis’ premier shopping corridors and is considered a generational asset,” said Amy Sands, Managing Director at JLL who represented the Seller in the sale.  “The property offered Bianco the rare opportunity to acquire a core retail asset in an irreplaceable location that features a long-term grocery lease and best-in-class co-tenancy.”

Bianco Properties partnered with Northmarq and Mutual of Omaha to complete the transaction which was their fourth collaboration over the past three years, totaling 358,000 square feet of retail and collectively valued at over $95,000,000.

The company’s primary focus is retail and industrial investment opportunities with an objective to continue expanding its presence in key markets.