Phillips Edison ARC Shopping Center REIT, Inc. acquired Savage Town Square at 14075 Hwy 13 S. in Savage, MN from Wangard Partners, Inc. for $15 million, or about $172 per square foot.
The 87,181-square-foot shopping center was built in 2003 on 16.8 acres in the Burnsville Retail submarket of Scott County. It was fully leased at the time of sale, anchored by Cub Foods.
Joe Girardi, Douglas Sailor, and Mike Sims with Mid-America Real Estate represented the seller.
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