Cleeman Realty Group is pleased to announce the off-market sale of Hy-Vee Plaza, a 51,157-square-foot shopping center in New Ulm, MN. Situated on 5.29 acres and boasting an 87% occupancy rate at closing, the center serves as a key retail hub for the region. It is anchored by Hy-Vee, which has operated at the location since 1990 and also features a Hy-Vee Wine & Spirits store and a Hy-Vee fuel station on the property. As the primary supermarket in the area, Hy-Vee attracts customers from a 15-mile radius, solidifying the shopping center’s status as a vital commercial asset.
Jeremy Scheer represented both the purchaser and the seller in the transaction.
“The buyer was attracted to Hy-Vee Plaza as a strong addition to their portfolio of grocery anchored centers,” said Scheer. “The long-standing presence of Hy-Vee provides stability, and the center offers potential upside through leasing its remaining vacant space.”
The sale of Hy-Vee Plaza underscores the continued demand for well-located, grocery-anchored retail assets, particularly those with strong regional draw and value-add potential.
This successful transaction reflects Cleeman Realty Group’s commitment to delivering exceptional results for its clients, leveraging deep market expertise and a tailored approach to real estate transactions.
For more information about Cleeman Realty Group and its services, please visit www.cleeman.com.