ST. PAUL, MN – Paster Enterprises, a leading manager and developer of primarily neighborhood shopping centers in the Twin Cities, announced today the purchase of the Highland Bank Building, located at 1730 Plymouth Road, Minnetonka, Minn., 55305. Paster Enterprises President Howard Paster made the announcement.
“The Highland Bank Building is a great addition to the Paster Enterprises portfolio because of its excellent location, and its diverse group of tenants offering a wide variety of important services and products to the community,” said Paster. “With the commercial real estate market continuing to strengthen as we close out 2013, we felt now was the perfect time to make this acquisition.”
The Highland Bank Building is a 20,149-square-foot office building that is anchored by 5,517-square-foot Highland Bank and 3,608-square-foot Avada Audiology & Hearing Care. Additional tenants include A&H Intermediaries, American Family Insurance, Carlstrom Jewelry, Chef’s Classic Fine Foods, Choice Insurance Agency, Elite Medical Scribes, Hannon & Sandler DDS, Lisa Verna, Lynn Klicker Uthe, and Slack & Young.
The acquisition of the Highland Bank Building officially closed on Friday, November 20. There are no immediate plans for redevelopment.
Founded in 1948, Paster Enterprises is a family-owned leader in shopping center management and that owns and manages more than 1,000,000 square feet of commercial real estate. For over 60 years, Paster Enterprises has planned, built, leased and managed attractive, successful shopping centers in the Twin Cities metropolitan area, as well as in greater Minnesota. Paster Enterprises is committed to helping retailers flourish and serving as an excellent corporate citizen in the communities in which they have shopping centers. For more information, visit www.pasterenterprises.com.
CONTACT: Stephanie Cosby