Trautz Properties Inc. just bought a retail center in Northtown Mall’s outlot in Blaine for $4.7 million.

By J.D. Duggan – Staff Reporter, Minneapolis / St. Paul Business Journal

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The owner of Blaine’s Northtown Mall, 4th Dimension Properties, just sold a retail center in the mall’s outlot amid a slow season for retail transactions.

The five-tenant retail center at 599 Northtown Drive was acquired by Minneapolis-based Trautz Properties Inc. for $4.7 million. While nothing is set to change for the property — home to a Chipotle Mexican Grill, FedEx Office Print & Ship Center, Verizon, Gamestop and Potbelly — it marks movement in an area slated for more change.

“There’s nothing else happening in the market. That, in itself, makes it significant because there’s been very little retail that has closed this year yet,” said Amy Senn, vice president of investment sales with Mid-America Real Estate, who represented the buyer.