Cypress Equities acquires Minnesota retail center

Dallas — Cypress Equities has acquired Eden Prairie Center in Eden Prairie, Minn., an upscale suburb of Minneapolis. The transaction was carried out by a fund managed by Cypress’ real estate investment management group. Eden Prairie Center is a 1.1-million-sq.-ft., two-level, enclosed shopping center. The mall features more than 100 shops and restaurants. Annual shopper visits exceed 12 million.

Von Maur, Target, Kohl’s, Sears and J.C. Penney anchor the mall. The entertainment wing features an 18-screen AMC Theatres, Barnes & Noble Booksellers, Wildfire Steaks, Chops & Seafood, Biaggi’s Ristorante Italiano, Panera Bread and Prairie Tap House.

Eden Prairie ranked third on Money Magazine’s “Best Places to Live” in 2012 and was first on the list in 2010. The average household income within three miles of Eden Prairie Center is substantially higher than that of the Minneapolis metro average and the United States average.

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