SOURCE: Waba Financial

August 22, 2011 09:00 ET

Waba Financial Announces the Purchase of the Roseland Center in Blaine, Minnesota

MOUNTAIN VIEW, CA--(Marketwire - Aug 22, 2011) - Waba Financial has purchased the Roseland Center in Blaine, Minnesota. Financial terms were not disclosed.

The Roseland Center is a 15,808 square foot retail center on 1.85 acres in Blaine, Minnesota at the corner of Central Ave NE (Hwy 65) and 109th Ave NE, a high-traffic count signalized intersection. The retail center was constructed in 2004 with brick facing and premium finishes. The purchase was facilitated by Matthew Klein of KW Commercial Midwest and Mark Kolsrud of Cassidy Turley.

"This is a great location in Blaine's central retail district, and the center is well built. Visibility along Central will drive traffic to retail tenants," says Waba Financial's Principal Eric Swildens.

Amie Heddle, Financial Officer, states, "Waba Financial is continuing to expand its commercial real estate portfolio in Minnesota. Blaine is a growing community and a great place to live. We continue to believe this is the right time to be acquiring premium assets in growing areas."

According to the buyer's agent Matthew Klein, "The Roseland acquisition is a terrific example of how investors are able to capitalize on today's commercial real estate market and pick up quality assets at very reasonable prices."

The property will be managed by Anderson Property Management, which provides comprehensive real estate management services, specializing in third-party management of commercial property between 5,000 and 100,000 square feet in size.

Waba Financial acquires and manages a variety of real estate and related investments, focusing on income producing opportunities in high quality locations in the Midwestern United States. It is privately held and operates out of Mountain View, California.