The CityPlace retail development in Woodbury has sold for $77.8 million, according to an electronic certificate of real estate value available this week.
CityPlace, the former site of the State Farm office campus, was recently developed to include a retail center that includes a Whole Foods, Nordstrom Rack and several other shops. CityPlace is located off Interstate 94 close to Radio Drive.
Managing principal Juan DeAngulo of former owner Elion Partners said last year that Elion had tried to “stay away from too much big-box” and incorporated non-traditional stores that fostered experiences like kitchen supply store Sur La Table, which also offers cooking classes.
Besides retail, the 100-acre mixed-use development also includes other uses such as a 75,000-square-foot Tria Orthopedic Center and hotels with plans for additional office space and possible housing.
The sale only includes the retail portion of the development.
The buyer is an entity associated with the Illinois-based Inland Real Estate Group of Cos.