Another St. Cloud Mall Changes Hands, What Changes Are Coming?
St. Cloud's Midtown Square Mall has a new owner. An Edina investor recently purchased the property for $8 million according to the Minneapolis/St. Paul Business Journal. So what can customers and businesses expect from the new owner?
Edina's Brait Capital told the Minneapolis/St. Paul Business Journal that they were hoping "to invest $3 million to $5 million in the property and convert it to mixed-use, with '30% retail, 30% indoor sports and 30% to 40% to flex light industrial warehouse uses'."
The article from the paywalled online publication said that the new owners aren't interested in tearing down the mall for housing, which has been a popular option for other mall properties that have been purchased over the years. Rather the new investment group is looking to increase foot traffic into the mall with the improvements, and change of use for parts of the mall.
You might remember that the Midtown Square Mall housed Kay's Cafe that closed its doors in September of 2022.
Existing businesses at the MIdtown Square Mall are:
Red Wing Store, assorted counseling services, motivational training, and the Midtown Bar and Grill.
You can see a full listing of tenants online by heading to the malls website, which is located here.
Midtown Square Mall isn't the mall many people who live and shop in St. Cloud are curious about for new owners. The Crossroads Mall is currently looking for new owners after the former owners let the mall fall into foreclosure in 2023, leaving that mall currently in the hands of a conservatorship.
LOOK: The most popular dog names of 2022 in every state
Gallery Credit: Amber Spencer-Knowles
LOOK: The 50 best small towns to raise a family in the U.S.
Gallery Credit: Annalise Mantz
11 Bad Laundry Habits to Break Immediately
Gallery Credit: Danielle Kootman