On August 1st, just days prior to Fresh Thyme opening with great anticipation, Vadnais Square in Vadnais Heights sold to Dakota Upreit for $20.6 million or $166 psf. The 124,000 sf shopping center is anchored by Fresh Thyme and shadow anchored by Target. Additional key tenants in the 100% occupied center include Xperience Fitness, Famous Footwear, Dollar Tree, Pet Supplies Plus, AT&T and Chipotle. This is the first Fresh Thyme anchored center to trade in the Twin Cities market.
With the opening last week of two more stores, Fresh Thyme has four locations and more coming. The Savage store opened in 30,000 sf of the former Rainbow store, with the Vadnais Heights store of the same size going into the former Festival Foods store. By all accounts, they opened with lots of buzz and great sales. Their Bloomington store opened last year, and was the only site until Apple Valley opened this spring. The next location to open is Plymouth at Highway 55 and Vicksburg in mid-September, along with St. Louis Park, Prospect Park, Waite Park and West St. Paul in the works.
They also added liquor to their offerings, with the Vadnais Heights stores having a liquor store. Plymouth will also offer liquor, and more will be added to future locations if feasible.
Fresh Thyme will open a liquor store in Vadnais Heights with their new store opening next week, featuring 450 wine varieties and local beer. This will be their 3rd store in our market, along with the Savage opening next week for the 4th spot. The Plymouth store will follow this fall, and a store in St. Louis Park also opening with a liquor store. Average size for FT stores is 28,000 sf, without liquor. They currently have stores open in Bloomington and Apple Valley.
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