Hastings Marketplace sold
A Cincinnati-based real estate investment firm recently acquired a Hastings retail complex that includes a Cub-anchored mall and a building formerly occupied by Panera Bread.
A business entity of Phillips Edison paid $15.9 million for Hastings Marketplace on Hwy. 55, according to a certificate of real estate value filed with the Minnesota Department of Revenue. The seller was an entity connected with St. Paul-based Madison Equities.
The Panera cafe had operated for 10 years but before closing in August. A representative of the St. Louis-based chain said the lease had expired and that the company chose not to renew it.