Shoppers shouldn't expect to see any real changes in the interim as a St. Cloud retail center has changed hands for millions of dollars. Division Place Shopping Center, has two parts, as it sits on either side of 29th Ave South. Both buildings were part of the sale to a Texas-based investor.

According to the Minneapolis-St Paul Business Journal the sale was completed back in December but recently was made public. The retail center changed hands for $17.6 million, and is the second large sale made along Division in recent years.

Image Credit: Google Maps
Image Credit: Google Maps
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If you remember St. Cloud's Crossroads Mall was recently sold for $80 million back in early 2024.

The retail center is home to various local businesses like Taco Chon's, T.J. Maxx, Famous Footwear, Star of India, Dollar Tree, Computer Dynamics, and Celebrations.

Minnesota's Department of Revenue lists two companies in Frisco Texas that took control of the retail center. They are Tahoma Cloud Parent LLC and Sairam Square Parent LLC.

Image Credit: Google Maps
Image Credit: Google Maps
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The sale comes as a Limited Warranty Deed sale, and the Frisco-based companies put down more than 6 million to secure the real estate along Division.

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The current mortgage on the buildings has a large balloon payment that is due in July of 2029, but that might be changed now there are new owners. Currently, that balloon payment due is more than 10 million dollars ($10,017,888.00).

The center was previously purchased back in 2017 for just above $16 million.

H/T Minneapolis St. Paul Business Journal

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