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Granite Partners has won the marketing assignment for Dakota Square Mall, a 662,000-sf property in Minot, N.D., that is valued at $65 million
Real Estate Alert, March 31, 2004
Granite Partners has won the marketing assignment for Dakota Square Mall, a 662,000-sf property in Minot, N.D., that is valued at $65 million. At that price, the buyer's initial annual yield would be 8.5%. The mall is one of three that Blackstone Group and Polaris Capital plan to sell. The others --Tri-County Mall in Cincinnati and Colonie Center in Albany, N.Y.--are not yet listed.
The Blackstone team bought Dakota Square in 2003 and since has since upped the net operating income by $700,000, to $5.5 million.
COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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