New owner of Woodbury Commons reports that the furniture store will bring the retail asset’s occupancy up to 100 percent.
Becker Furniture World is set to open this fall in the Woodbury Commons retail area at 10150 Hudson Road.
Inland Real Estate Corp. on Feb. 24 purchased Woodbury Commons for $10.3 million, and a company spokeswoman told Patch that it has agreed to a lease with the furniture store. It will bring the occupancy at Woodbury Commons up to 100 percent.
Founded in 1978, Becker Furniture World currently has four stores in Minnesota, along with two Becker Mattress locations in the state.
Inland Real Estate Corp., a real estate investment trust, purchased Woodbury Commons because of its location and the city’s demographics, the spokeswoman said. “We believed we could leverage our local retailer relationships to fill vacancy at the center,” she said. Inland Real Estate primarily owns retail properties in the Chicago and Twin Cities metro areas, she said. It currently owns 33 properties in Minnesota. (Source: WoodburyPatch)