Centre Place
St. Cloud, MinnesotaMulti-tenant retail
A six-tenant, fully occupied retail strip directly across from Crossroads Center, on the corner that carries Central Minnesota's retail traffic.
The corner everyone in St. Cloud already drives to.
Centre Place is an 18,866 square foot retail strip at 4200 W Division St., positioned directly across from Crossroads Center — the only enclosed regional mall within a 45 mile radius and the retail centre of gravity for all of Central Minnesota.
Roughly 4.5 million visitors move through that hub every year. With direct access to Division Street and more than 26,000 vehicles passing daily, the property sits behind a wall of national retailers that do the work of drawing the trade area in.
The rent roll is what closed it. Centre Place came to us fully leased, with rent growth already written into the schedule and tenants who have chosen to stay for decades rather than months. Opportunities to acquire real estate along Division Street are rare.
80%+
of the space is held by tenants of a decade or more. Occupancy is a number; retention is a thesis. Every suite is filled by an operator that has already proven it belongs on this corner, and four of the six hold renewal options priced below market that they are expected to exercise.
- Erbert & Gerbert's · 22 yearsThe longest tenured operator on the property, and a Midwest sandwich brand with deep roots across Minnesota.
- Sun Tan City · 19 yearsA national wellness franchise, the top performing location in Minnesota, holding a renewal option priced below market.
- U.S. Post Office · 18 yearsA federal service tenant anchoring steady, essential foot traffic that keeps the whole centre busy.
- Sleep Number · 14 yearsA publicly traded national retailer in the top 30% of its Minnesota stores, with a below-market renewal option.
- Hajime Asian Bistro · 10 yearsA destination restaurant with a full bar that has become a fixture of the St. Cloud dining scene.
- Smile Orthodontics · leased to 2035The newest tenant, on a long term lease with scheduled annual increases through 2035 and three renewal options beyond.
Everything, on the record.
A 1996-built, six-suite retail strip on 1.49 acres at a signalised corner, acquired fully leased with contractual rent growth already in the schedule.
- Signalised corner
- ~85 surface stalls
- Six demised suites
- Pylon signage
- Direct Division St access
- Address4200 W Division St, St. Cloud, MN 56301
- PositionSoutheast corner of the Division St and Waite Ave S signalised intersection
- Asset typeMulti-tenant retail strip centre
- Gross leasable area18,866 square feet
- Land1.49 acres
- Year built1996
- Tenancy6 tenants, 100% leased
- ParkingApproximately 85 stalls
- Year 1 cap rate7.36%
- Year 1 cash on cash6.88%
- Contractual rent growth3.4% CAGR written into the leases
- AcquiredJuly 2026
- Asset managerInventure Real Estate
Returns shown are the underwritten year one figures at acquisition. They are not a projection of future performance and are not a guarantee of any result.
A corner that does not depend on the centre staying full.
Division Street is Central Minnesota's dominant commercial corridor. Centre Place sits on the side of it that the whole region already drives to, in front of the traffic rather than behind it.
Crossroads Center
The only enclosed regional mall within a 45 mile radius, directly across the street, drawing roughly 4.5 million visitors a year into the immediate trade area.
Division Street
More than 26,000 vehicles pass the property daily, with direct access and frontage on the corridor and a signalised intersection at the corner.
The retailer wall
Scheels, Target, JCPenney, DSW, HomeGoods, Ulta, Best Buy, Michaels and Ashley all trade within the same node, reinforcing the draw rather than competing with a six-suite strip.
The demographics behind the corner.
The catchment Centre Place draws from, as mapped in the acquisition materials.
Trade area figures as presented in the property's acquisition materials.
The property and its corner.
Six suites, and who is in them.
Site plan shown for orientation only; suite areas and demising lines are approximate.
Acquired, managed and asset managed in house.
Seven years in commercial construction before founding Boser Construction in 1996 and Inventure Properties in 2000. Over 35 years across construction, design and development.
With Inventure since 2017, leading commercial real estate strategy, acquisitions and investor relationships across Central Minnesota.
Leads development and investment work across the portfolio, and is the first point of contact for investors reviewing an asset.
Fee-based property and asset management: leasing, maintenance, accounting, financial reporting and ongoing owner communication.
Own a piece of the corner everyone drives to.
The full memorandum covers the rent roll suite by suite, the returns, the financing structure and the hold. It is shared directly with prospective investors rather than published here. Start below, or call either of us.
This page is for informational purposes only. It is not an offer to sell, or a solicitation of an offer to buy, any security. Any offer is made solely through the confidential offering memorandum and the related offering documents, which should be read in full, and participation is generally limited to accredited investors.
Tenant tenure, renewal options and rent growth are drawn from the rent roll and lease abstracts at acquisition and are summarised here; the leases themselves govern. Trade area and traffic figures are third-party estimates presented in the acquisition materials. Returns shown are underwritten year one figures, are not guarantees, and actual results may differ materially.