The Galleria in Edina has been put up for sale

The company that owns it bought the mall for $127 million in 2012.
Publish date:

The Galleria in Edina has reportedly been placed on the market by its owners of the past seven years.

The high-end mall just to the south of the Southdale Center is being marketed by Jones Lang LaSalle in Chicago, a listing first reported last week by the Star Tribune.

It is owned by Hines Global REIT Inc., a real estate investment trust based in Houston, Texas, which bought the mall for $127 million in 2012.

No listing price for the Edina mall has been revealed, though Hines should know it has a strong bargaining position given that The Galleria has bucked the downturn afflicting other retail malls.

Per the Jones Lang LaSalle listing, the Galleria has an occupancy rate of 95 percent across its almost 400,000-square-foot of space, at a time when other malls have struggled to replace departing retailers.

It's still managing to bring in new retailers despite several high-profile departures in recent years, including Restoration Hardware (which moved to a bigger store on the southwest corner of Southdale), Creative Kidstuff and Scheherazade, while original anchor store Gabbert's will leave this year.

The property listing says: "Galleria sits amongst the top 10 percent of enclosed centers nationally and offers investors the rare opportunity to acquire a generational retail asset in an irreplaceable location with significant income security and tremendous value creation potential."

Follow Bring Me The News on LinkedIn

The listing also says the gross sales from the mall's tenants exceed $210 million a year.

In a statement to BMTN, Hines managing director of asset management Sargent Johnson said: "Hines makes decisions for Galleria and all of our investments based on the best interest of our tenants, customers and our investors—for whom we serve as a fiduciary.

"As stewards of this premier shopping center since 2012, we are proud of the way we have elevated it through the exciting mix of retailers and restaurants, upgrades and expansions. With a local presence for over 40 years, we recognize Galleria’s place in our community and feel privileged to contribute toward its continued success.”

Next Up

Jaden McDaniels

Wolves lose to Magic on Cole Anthony's buzzer-beater

The Wolves blew a 20-point lead as the Magic defeated the Timberwolves on Wednesday night.

J.A. Happ

Twins sign veteran J.A. Happ to add to the rotation

The left-hander will get a one-year, $8 million deal from the Twins.

storm the capitol rally st. paul minnesota state capitol

BCA finds 'no criminal wrongdoing' among those at 'Storm the Capitol' rally

Inflammatory comments were made by speakers, but no charges will be brought.

Screen Shot 2021-01-18 at 12.27.04 PM

Man's vehicles crushed by hit-and-run driver weren't fully insured

The goal is to raise $25,000 to help the south Minneapolis resident.

Joe Biden

Key points from Joe Biden's first speech as POTUS

The 46th president called for unity at a time America is facing huge challenges.

coronavirus, covid-19

Here is Minnesota's COVID-19 update for Wednesday, January 20

The 111 ICU patients is the fewest in Minnesota since there were 109 COVID patients in intensive care on Oct. 1.


Here's what Amy Klobuchar said at Joe Biden's inauguration

The Minnesota senator was one of the leader organizers of the inauguration.

covid-19, vaccine

All of this week's COVID vaccine pilot program appointments are filled

Nearly 6,000 Minnesotans who are 65 and older registered for appointments between noon Tuesday and Wednesday morning.

Lane kueng thao chauvin

Osterholm affidavit ahead of George Floyd trial warns of COVID worsening in March

Prosecutors want to delay the Chauvin trial due to a public health threat.



Several new retailers opening stores at Edina's Galleria this fall

There has been an unusual level of turnover at the Edina mall this year.

Screen Shot 2019-02-14 at 10.03.38 AM

Original anchor store Gabberts is leaving the Galleria

It's moving to a new flagship retail complex being built by its owner, HOM Furniture.


Express announces plan to close 100 stores nationwide

The retail chain is looking to make $80 million in savings.


Gap signals major withdrawal from malls across the U.S.

It will be focusing more on its online and off-mall stores.

Disney store

25 Targets to get their own Disney shops in October, 1 in MN

The landmark collaboration between the two companies was announced on Sunday.