RCG Acquires Shakopee Retail Center in Shakopee, MN
RCG Ventures Fund II has completed the purchase of Shakopee Retail Center, a 103,442 SF shopping center formally occupied by Rainbow Foods (Roundy’s – NYSE: RNDY). Located in Shokapee, Minnesota, 25 miles southwest of Minneapolis, the center is situated on approximately 12.11 acres of land at the signalized intersection of Vierling Drive and Co. Hwy 17.
Developed in 1999, Shakopee Retail Center is located in a strong submarket surrounded by national tenants such as Target, Kohl’s, Cub Foods, and Walgreens. The well positioned center features two large anchor spaces, including a ready to lease gym, all of which provide RCG an excellent opportunity to redevelop the center with quality tenants.