Property Name
Property Address
Market
Property Type
SQFT
Major Tenants
Heritage Commons
20250 Heritage Drive, Lakeville, Minnesota 55044
Lakeville (Minneapolis), Minnesota
Grocery-anchored neighborhood center
138,592
Cub Foods
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Heritage Commons is a 138,592 square foot grocery-anchored neighborhood shopping center located approximately 25 miles south of downtown Minneapolis in Lakeville, Minnesota, a fast-growing suburban community. Built in phases between 1999 and 2008, the center is 88% occupied and anchored by Cub Foods, the dominant grocer in Minneapolis. The center is located at the northeast corner of Kenwood Trail, also known as Highway 50, and Dodd Boulevard.
In addition to the existing improvements, the center is accompanied by nearly nine acres of outparcel sites fronting Dodd Boulevard being offered for sale, lease or build-to-suit, as well as Phase II land adjacent to Cub Foods allowing for the development of an additional 44,000 square feet of shop space.
Lakeville is the #1 growth suburb of Minneapolis in residential housing permits, beating other burgeoning suburbs including Woodbury, Blaine and Plymouth. The city has experienced historical growth levels above 4% annually, with further development opportunities in the city allowing for more density and population growth in the near future.
Cub Foods is a wholly-owned subsidiary of SuperValu, Inc., a large retailer headquartered in Eden Prairie, MN.