Burnsville Center Owner Plans To Divide, Sell Site: Report

Burnsville MN

13 September, 2021

12:48 PM

Description

BURNSVILLE, MN—On Monday, the Burnsville Planning Commission will hear a proposal that would see the Burnsville Center site divided up and sold to tenants. The Minneapolis/St. Paul Business Journal reports the mall owner is seeking to use the money to pay back investors and the bank, and use remaining funds to improve the mall site. The proposal by Burnsville Center Capital Holding LLC has a public hearing Monday night. The proposal only includes land owned by mall owner Kohan Retail Investment Group; JC Penney, Macy's, MN Theaters, and the former Sears site are not included. Under the proposal, land would be split into ten lots and one "out-lot." Three of the lots already have tenants interested, according to a memo provided to the Burnsville Planning Commission. Read more in the Minneapolis/St. Paul Business Journal.