Fridley Market

By admin July 1, 2017

In 2006, Tri-Land acquired a 15.53-acre, 164,837 SF, Cub anchored shopping center from SPE, LLC.   The property was repositioned into a 184,837 SF community shopping center with outlots, street retail, and a hotel.

Repositioning Plan

  • Downsize/remodel Cub Foods to a prototypical new store size of 65,000 SF at Cub’s expense.
  • Constructed new Fridley Liquor store (at Cub’s cost) to allow for relocation/downsizing of Cub Foods.
  • Constructed two new outlot buildings facing the new Cub Foods for McDonalds and various street retail tenants.
  • Added Duluth Trading Company as a co-anchor to the shopping center.
  • Renovated common areas to a new shopping center quality environment.


  • Sold 2.5 Acre parcel to limited service hotel developer
  • Increased center size from 164,837 SF to 184,279 SF.
  • Upon sale of Fridley Market in 2016, achieved IRR of 36.6%